$FUST
FUSE GROUP HOLDING INC.

2024 Q3 Form 10-Q Financial Statement

#000118518524000808 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $82.35K $0.00
YoY Change
Cost Of Revenue $0.00 $0.00
YoY Change
Gross Profit $82.35K $0.00
YoY Change
Gross Profit Margin 100.0%
Selling, General & Admin $64.42K $99.79K
YoY Change -35.44% -21.7%
% of Gross Profit 78.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $456.00
YoY Change -100.0% 0.0%
% of Gross Profit 0.0%
Operating Expenses $64.42K $99.79K
YoY Change -35.44% -21.7%
Operating Profit $17.93K -$99.79K
YoY Change -117.97% -21.7%
Interest Expense -$1.140K $6.570K
YoY Change -117.35% 153.86%
% of Operating Profit -6.36%
Other Income/Expense, Net -$648.00 -$6.570K
YoY Change -90.14% 200.55%
Pretax Income $17.28K -$106.4K
YoY Change -116.25% -17.95%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $17.28K -$106.4K
YoY Change -116.25% -17.95%
Net Earnings / Revenue 20.99%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 66.48M shares 66.37M shares 64.78M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.43K $22.08K
YoY Change 92.16% -54.0%
Cash & Equivalents $42.43K $22.08K
Short-Term Investments
Other Short-Term Assets $16.85K $16.35K
YoY Change 3.06% 5.08%
Inventory
Prepaid Expenses $16.85K $16.35K
Receivables
Other Receivables
Total Short-Term Assets $59.28K $38.43K
YoY Change 54.27% -39.54%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $910.00
YoY Change -100.0% -66.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $11.84K $40.11K
YoY Change -70.48% -40.97%
TOTAL ASSETS
Total Short-Term Assets $59.28K $38.43K
Total Long-Term Assets $11.84K $40.11K
Total Assets $71.13K $78.54K
YoY Change -9.44% -40.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $12.52K $45.18K
YoY Change -72.29% 64.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $250.0K
YoY Change -100.0%
Long-Term Debt Due $1.790K $1.920K
YoY Change -6.77% -13.12%
Total Short-Term Liabilities $160.1K $300.1K
YoY Change -46.63% 609.84%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $552.4K
YoY Change -81.9% 55.74%
Other Long-Term Liabilities $0.00 $12.52K
YoY Change -100.0% -69.41%
Total Long-Term Liabilities $100.0K $564.9K
YoY Change -82.3% 42.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $160.1K $300.1K
Total Long-Term Liabilities $100.0K $564.9K
Total Liabilities $260.1K $865.0K
YoY Change -69.92% 97.54%
SHAREHOLDERS EQUITY
Retained Earnings -$7.972M -$7.801M
YoY Change 2.19% 6.56%
Common Stock $66.49K $64.78K
YoY Change 2.64% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$189.0K -$786.4K
YoY Change
Total Liabilities & Shareholders Equity $71.13K $78.54K
YoY Change -9.44% -40.28%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income $17.28K -$106.4K
YoY Change -116.25% -17.95%
Depreciation, Depletion And Amortization $0.00 $456.00
YoY Change -100.0% 0.0%
Cash From Operating Activities $4.970K -$116.9K
YoY Change -104.25% -15.0%
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 99.25K
YoY Change -100.58% 103.51%
NET CHANGE
Cash From Operating Activities 4.970K -116.9K
Cash From Investing Activities
Cash From Financing Activities -580.0 99.25K
Net Change In Cash 4.390K -17.65K
YoY Change -124.87% -80.11%
FREE CASH FLOW
Cash From Operating Activities $4.970K -$116.9K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Security12b Title
Security12bTitle
None
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
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2024
dei Document Transition Report
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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 Address Address Line1
EntityAddressAddressLine1
805 W. Duarte Rd., Suite 102
dei Entity Address City Or Town
EntityAddressCityOrTown
Arcadia
dei Entity Address State Or Province
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CA
dei Entity Address Postal Zip Code
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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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CY2024Q2 us-gaap Convertible Debt
ConvertibleDebt
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CY2023Q3 us-gaap Convertible Debt
ConvertibleDebt
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CY2023Q2 us-gaap Debt Conversion Converted Instrument Shares Issued1
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CY2023Q2 us-gaap Debt Instrument Face Amount
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0.45
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CY2023Q2 us-gaap Debt Instrument Term
DebtInstrumentTerm
P24M
CY2024Q2 us-gaap Debt Instrument Face Amount
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50000 usd
CY2024Q2 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
1320 usd
CY2024Q2 us-gaap Debt Conversion Converted Instrument Shares Issued1
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CY2024Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
0 usd
CY2024Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
0 usd
CY2023Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
50000 usd
CY2023Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
382 usd
CY2024Q2 us-gaap Other Liabilities Current
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6312 usd
CY2023Q3 us-gaap Other Liabilities Current
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25715 usd
CY2024Q2 us-gaap Accrued Salaries Current And Noncurrent
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4700 usd
CY2024Q2 us-gaap Accrued Payroll Taxes Current And Noncurrent
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7764 usd
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16000 usd
CY2023Q3 us-gaap Accrued Payroll Taxes Current And Noncurrent
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1951 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1794 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2472 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2567 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2665 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2766 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
89527 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
101791 usd
CY2024Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
1510000 usd
CY2024Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1508167 usd
CY2023Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1490909 usd
CY2024Q2 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
CY2024Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
284 usd
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
468 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1788287 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1771213 usd
CY2024Q2 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
-0.03 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0633 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
0.2799 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0399 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0066 pure
CY2024Q2 fsnt Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
-0.21 pure
CY2023Q2 fsnt Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
-0.21 pure
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0698 pure
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0698 pure
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2798 pure
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.2798 pure
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Deferred Revenue Revenue Recognized1
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202139 usd
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
0 usd
CY2024Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
82353 usd
CY2023Q2 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
21579 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
21579 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P0Y4M2D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M2D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
7193 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
7193 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12675 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
157 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
12518 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
12518 usd
CY2024Q2 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 Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-1017473
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001636051
dei No Trading Symbol Flag
NoTradingSymbolFlag
true

Files In Submission

Name View Source Status
fsnt-20240630_lab.xml Edgar Link unprocessable
fsnt-20240630_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001185185-24-000808-index-headers.html Edgar Link pending
0001185185-24-000808-index.html Edgar Link pending
0001185185-24-000808.txt Edgar Link pending
0001185185-24-000808-xbrl.zip Edgar Link pending
ex_708855.htm Edgar Link pending
ex_708856.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
fsnt-20240630.xsd Edgar Link pending
fusegroup20240630_10q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
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fsnt-20240630_cal.xml Edgar Link unprocessable
fsnt-20240630_pre.xml Edgar Link unprocessable
fusegroup20240630_10q_htm.xml Edgar Link completed
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
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R6.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending