$GITS
Global Interactive Technologies, Inc.

2024 Q3 Form 10-Q Financial Statement

#000121390024100296 Filed on November 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue
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
YoY Change
Operating Profit -$371.3K
YoY Change -88.75%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$120.4K
YoY Change -161.93%
Pretax Income -$491.7K
YoY Change -84.16%
Income Tax
% Of Pretax Income
Net Earnings -$491.7K
YoY Change -84.16%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.01
COMMON SHARES
Basic Shares Outstanding 52.81M shares
Diluted Shares Outstanding 52.81M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $6.975K
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses $73.92K
Receivables $316.8K
Other Receivables
Total Short-Term Assets $17.16M
YoY Change -0.2%
LONG-TERM ASSETS
Property, Plant & Equipment $331.3K
YoY Change -58.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $240.9K
YoY Change -49.31%
Total Long-Term Assets $2.260M
YoY Change -30.25%
TOTAL ASSETS
Total Short-Term Assets $17.16M
Total Long-Term Assets $2.260M
Total Assets $19.42M
YoY Change -4.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $107.8K
YoY Change 326.85%
Deferred Revenue
YoY Change
Short-Term Debt $15.44K
YoY Change -96.8%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.800M
YoY Change 33.5%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.800M
Total Long-Term Liabilities
Total Liabilities $8.800M
YoY Change 19.45%
SHAREHOLDERS EQUITY
Retained Earnings -$40.99M
YoY Change 5.82%
Common Stock $51.47M
YoY Change -0.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $19.42M
YoY Change -4.96%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$491.7K
YoY Change -84.16%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
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
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Local Phone Number
LocalPhoneNumber
2-564-8588
dei City Area Code
CityAreaCode
+82
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-41763
dei Entity Registrant Name
EntityRegistrantName
Hanryu Holdings, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
88-1368281
dei Entity Address Address Line1
EntityAddressAddressLine1
160, Yeouiseo-ro
dei Entity Address Address Line2
EntityAddressAddressLine2
Yeongdeungpo-gu
dei Entity Address City Or Town
EntityAddressCityOrTown
Seoul
dei Entity Address Country
EntityAddressCountry
KR
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
07231
dei Security12b Title
Security12bTitle
Common Stock, $0.001 par value per share
dei Trading Symbol
TradingSymbol
HRYU
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
dei Entity Interactive Data Current
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Yes
dei Entity Filer Category
EntityFilerCategory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 1 — NATURE OF OPERATIONS AND BASIS OF PRESENTATION</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Business</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hanryu Holdings, Inc., a Delaware corporation (“<i>Hanryu Holdings</i>”), together with its wholly owned subsidiaries Hanryu Bank Co., Ltd (“<i>HBC</i>”), FNS Co., Ltd. (“<i>FNS</i>”), , and Marine Island Co., Ltd (“<i>Marine Island</i>”), all incorporated under the laws of the Republic of Korea (“<i>Korea</i>” or “<i>ROK</i>”) (collectively, the “<i>Company</i>”, “<i>we</i>”, or “<i>us</i>”), aims to be the leader in the global Korean entertainment market, also known as “<i>Hanryu</i>” or “<i>K-Culture</i>”, through its engaging social-media platform, FANTOO. The FANTOO platform is an all-inclusive global playground for fans, where they can consume, create, and get rewarded for all things related to their interests, and interact with other like-minded fans.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Corporate History</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since the inception of HBC in 2018, we have accomplished a number of key objectives, as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; width: 25%; padding-right: 3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date</b></span></td> <td style="white-space: nowrap; width: 1%; text-align: center"> </td> <td style="width: 74%; border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Event/Milestone</b></span></td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 18, 2018</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC is incorporated under the laws of the ROK with the idea of creating an all-in-one product to capture the growing global momentum and popularity of K-Culture.</span></td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 29, 2020</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC establishes FNS and begins the initial stages of designing and implementing a platform that can create a fandom networking system.</span></td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 11, 2021</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC establishes Hanryu Times Co., Ltd (“Hanryu Times”). Hanryu Times begins operations as HBC’s media outlet, reporting on and providing up-to-date K-Culture news within the FANTOO platform, across a number of languages, including English, Japanese, Chinese (simplified/traditional), Indonesian, Spanish, Russian, and Portuguese.</span></td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 31, 2021</span></td> <td style="white-space: nowrap"> </td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">HBC consummates an agreement and plan of merger (the “<i>Merger Agreement</i>”) with RnDeep, Co., Ltd, a Korean corporation (“<i>RnDeep</i>”), pursuant to which RnDeep merged with and into HBC, with HBC continuing as the surviving corporation (the “<i>RnDeep Acquisition</i>”). As consideration for the RnDeep Acquisition, HBC ratably issued a total 4,150,000 HBC common shares, par value $0.45 per share (“<i>Common Shares</i>”), to the former shareholders of RnDeep.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of the RnDeep Acquisition, HBC acquired the underlying technologies that the Company plans on utilizing in the future development of new functions and integrations within the FANTOO platform. Once the FANTOO platform is ready to integrate the technology acquired, this technology will support new functions and integrations including, without limitation, the Company’s enterprise resource planning solution, and its artificial intelligence (“<i>AI</i>”), which the Company plans on using to power many of FANTOO’s upcoming features such as speech synthesis, curated content delivery, deepfake detection and blocking, and nudity detection and blocking.</p></td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"> </td> <td style="white-space: nowrap"> </td> <td> </td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 17, 2021</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The FANTOO platform is launched and made available to the public.</span></td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 30, 2021</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC enters into an agreement to acquire all the issued and outstanding common shares of Marine Island (the “<i>Marine Island Acquisition</i>”), which owns the right to use and occupy 19,200 square-feet of office space within the iconic Seoul Marina, located at 160 Yeouiseo-ro, Yeungdeungpo-gu, Seoul, Korea (the “<i>Seoul Marina</i>”) from Sewang Co., Ltd. (“<i>Sewang</i>”), for the purchase price of 3,500,000,000 Korean Won (“<i>KRW</i>”), along with the assumption of all Marine Island’s liabilities.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; width: 25%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date</b></span></td> <td style="white-space: nowrap; width: 1%; text-align: center"> </td> <td style="border-bottom: black 1.5pt solid; width: 74%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Event/Milestone</b></span></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 30, 2021</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC establishes FANTOO Entertainment Co., Ltd (“FANTOO Entertainment”). FANTOO Entertainment provides a variety of content to the Company’s FANTOO platform, which contributes to the spread of the Korean Wave by promoting new entertainers and artists.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 3, 2021</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC consummates the Marine Island Acquisition, making it the owner of 100% of the issued and outstanding common shares of Marine Island.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 3, 2021</span></td> <td style="white-space: nowrap"> </td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">HBC consummates a strategic acquisition of 50.8% of the outstanding common shares of K-Commerce Co., Ltd (“K-Commerce”). In consideration for the shares of K-Commerce, HBC forgave a short-term loan of $270,530 (KRW 309,600,000) owed to HBC by K-Commerce.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">HBC’s investment into K-Commerce was a strategic acquisition in order to integrate K-Commerce’s retail platform, “SelloveLive” into the FANTOO ecosystem as the FANTOO Fanshop. When launched as the FANTOO Fanshop, K-Commerce’s platform will offer combined services of shopping and live broadcasting, allowing users to easily live-stream travel and share local attractions, local festivals, cultures, and news from around the world.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to HBC’s acquisition of its shares in K-Commerce, K-Commerce was 100% owned by Changhyuk Kang, the Company’s former Chief Executive Officer and Donghoon Park, the Company’s Chief Marketing Officer.</p></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="white-space: nowrap"> </td> <td> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 20, 2021</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hanryu Holdings is incorporated in the State of Delaware.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 25, 2022 through May 10, 2022</span></td> <td style="white-space: nowrap"> </td> <td> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hanryu Holdings, HBC, and the shareholders of HBC (the “<i>HBC Shareholders</i>”) enter into a share exchange agreement (the “<i>Share Exchange Agreement</i>”), pursuant to which the HBC Shareholders agreed to assign, transfer, and deliver, free and clear of all liens, 100% of the issued and outstanding Common Shares, representing 100% of the voting securities in HBC, to the Company in exchange for the Company issuing 42,565,786 restricted shares of the Company’s common stock, par value $0.001 per share (“<i>Common Stock</i>”) to the HBC Shareholders (the “<i>Share Exchange</i>”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concurrently with entering into the Share Exchange Agreement, the Company, HBC, and the holders (the “<i>HBC Warrantholders</i>”) of all outstanding warrants to purchase Common Shares (“<i>HBC Warrants</i>”) enter into a warrant exchange agreement, pursuant to which the HBC Warrantholders agreed to assign, transfer, and delivery, free and clear of any liens, 100% of the outstanding HBC Warrants to the Company in exchange for the Company issuing to the HBC Warrantholders 10,046,666 warrants to purchase restricted shares of Common Stock (the “<i>Warrant Exchange</i>”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Warrants and Common Shares of HBC transferred to the Company in the Share Exchange and the Warrant Exchange constituted 100% of the outstanding equity securities of HBC.</p></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="white-space: nowrap"> </td> <td> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 16, 2022</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hanryu Holdings, HBC, the HBC Shareholders, and the HBC Warrantholders consummate the Share Exchange and Warrant Exchange concurrently, pursuant to which HBC became a wholly owned subsidiary of the Company, and the HBC Stockholders and HBC Warrantholders, collectively, acquired a controlling interest in the Company.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 22, 2022</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company divests itself of all Kingdom Coin (“<i>KDC</i>”) holdings and terminates all crypto-currency-related activity, including, without limitation, the operation of the MainNet (FandomChain) and the Kingdom Wallet, pursuant to a Business Transfer Agreement (the “<i>Divestiture Agreement</i>”) between HBC and an unaffiliated and unrelated third party, Kingdom Coin Holdings, a Cayman Islands Foundation Company (the “<i>KDC Foundation</i>”) (the “<i>KDC Divestiture</i>”), to substantially reduce its involvement with blockchain technologies. Pursuant to the Divestiture Agreement, as of June 22, 2022, the Company no longer owns any KDC, and no longer conducts or controls the operations, issuances, or sales of KDC. In connection with the KDC Divestiture, the Company revised its procedures regarding FP and no longer allows, nor has the technology to allow, for the transfer of FP outside of the FANTOO platform or the exchange of FP and KDC</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 1, 2023</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The shares of the Company are listed on the Nasdaq Capital Market.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 28, 2023</span></td> <td style="white-space: nowrap"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC sold owned whole shares of Hanryu Times, Fantoo Entertainment, and K-Commerce, so the business from the three companies became the discontinued operations.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Going Concern</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has experienced recurring losses from operations and has stockholders’ equity and working capital of $10,615,774 and $8,355,991 as of September 30, 2024, respectively and $13,068,465 and $10,140,579 as of December 31, 2023, respectively. Also, the Company has operating losses of $2,109,827 and $8,552,478 for the nine months ended September 30, 2024 and September 30, 2023, respectively. These uncertainties raise substantial doubt about the Company’s ability to continue as a going concern for twelve (12) months after the issuance date of these financial statements. The accompanying financial statements have been prepared under the assumption that we will continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of us to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our future operations are dependent upon multiple factors, including (i) the success of our FANTOO platform business; (ii) competition from existing and future services from other companies; and (iii) securing new sources of capital to fund operations and develop markets. We will maintain an ongoing effort to improve and innovate FANTOO platform business to generate funds for our operations. For instance, we recently launched FANTOO House which is located in Seoul, and at FANTOO platform, we will launch (i) Epic branded ecommerce platform that we will expect it as a major source of new income, and (ii) dedicated video production operations that will create short episodic content that focuses on K-POP fandom. In addition, we maintain an ongoing effort to raise funds for our operations from current investors and new sources of capital through the issuance of additional common stock and/or short-term notes. However, there can be no assurance as to the outcome of these factors or that future funding efforts will generate sufficient capital to maintain our operations.</p>
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Warrant Exercises
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us-gaap Proceeds From Issuance Initial Public Offering
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us-gaap Net Cash Provided By Used In Discontinued Operations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
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us-gaap Interest Paid Discontinued Operations
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us-gaap Stock Issued1
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hryu Total Non Cash Activities
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2024Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2024Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2023Q4 us-gaap Short Term Borrowings
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us-gaap Stock Issued1
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hryu Non Cash Investing And Financing Activities
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dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001911545

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