2024 Q4 Form 10-Q Financial Statement

#000121390024098416 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $5.440M $13.21M
YoY Change -58.81%
Cost Of Revenue $8.920M
YoY Change
Gross Profit $4.290M
YoY Change
Gross Profit Margin 32.48%
Selling, General & Admin $15.22M
YoY Change 6953.15%
% of Gross Profit 354.78%
Research & Development $401.2K $740.8K
YoY Change -45.85%
% of Gross Profit 17.27%
Depreciation & Amortization $22.82K
YoY Change -76.2%
% of Gross Profit 0.53%
Operating Expenses $15.62M $24.16M
YoY Change -35.32% -11294.32%
Operating Profit -$10.18M -$10.95M
YoY Change -7.0% 989.54%
Interest Expense $393.0K
YoY Change 261.82%
% of Operating Profit
Other Income/Expense, Net $801.1K -$1.915M
YoY Change -141.83% -396.91%
Pretax Income -$9.382M -$12.86M
YoY Change -27.07% -3096.48%
Income Tax $37.34K $55.89K
% Of Pretax Income
Net Earnings -$9.419M -$12.92M
YoY Change -27.1% -3109.5%
Net Earnings / Revenue -173.15% -97.84%
Basic Earnings Per Share -$0.29 -$0.19
Diluted Earnings Per Share -$0.29 -$0.19
COMMON SHARES
Basic Shares Outstanding 155.2M shares 81.81M shares 67.46M shares
Diluted Shares Outstanding 32.48M shares 67.51M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.12M $1.600M
YoY Change 595.14% 1551.02%
Cash & Equivalents $5.093M $1.622M
Short-Term Investments $6.029M
Other Short-Term Assets $28.10M
YoY Change 1502573.8%
Inventory
Prepaid Expenses
Receivables $1.688M $2.612M
Other Receivables $1.500M
Total Short-Term Assets $52.07M $34.73M
YoY Change 49.92% 35063.23%
LONG-TERM ASSETS
Property, Plant & Equipment $1.661M $1.739M
YoY Change -4.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $32.20M
YoY Change -17.28%
Other Assets $1.000M
YoY Change
Total Long-Term Assets $44.35M $47.85M
YoY Change -7.31% 22.91%
TOTAL ASSETS
Total Short-Term Assets $52.07M $34.73M
Total Long-Term Assets $44.35M $47.85M
Total Assets $96.42M $82.58M
YoY Change 16.76% 111.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.10M
YoY Change
Accrued Expenses $1.200M
YoY Change 13539.46%
Deferred Revenue
YoY Change
Short-Term Debt $1.066M $11.70M
YoY Change -90.89% 122.17%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $92.56M $74.55M
YoY Change 24.17% 977.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $9.719M $10.98M
YoY Change -11.46% 492.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $92.56M $74.55M
Total Long-Term Liabilities $9.719M $10.98M
Total Liabilities $102.3M $85.52M
YoY Change 19.6% 874.73%
SHAREHOLDERS EQUITY
Retained Earnings -$94.45M -$74.97M
YoY Change 25.98% 764.1%
Common Stock $91.04M $72.50M
YoY Change 25.57% 5272840.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.859M -$2.940M
YoY Change
Total Liabilities & Shareholders Equity $96.42M $82.58M
YoY Change 16.76% 111.6%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$9.419M -$12.92M
YoY Change -27.1% -3109.5%
Depreciation, Depletion And Amortization $22.82K
YoY Change -76.2%
Cash From Operating Activities -$14.09M
YoY Change 6461.73%
INVESTING ACTIVITIES
Capital Expenditures $20.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $230.0K
YoY Change
Cash From Investing Activities $210.0K
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 4.910M
YoY Change 2072.37%
NET CHANGE
Cash From Operating Activities -14.09M
Cash From Investing Activities 210.0K
Cash From Financing Activities 4.910M
Net Change In Cash -8.970M
YoY Change -79550.84%
FREE CASH FLOW
Cash From Operating Activities -$14.09M
Capital Expenditures $20.00K
Free Cash Flow -$14.11M
YoY Change

Facts In Submission

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dei Document Type
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10-Q
dei Document Quarterly Report
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dei Document Period End Date
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2024-09-30
dei Document Fiscal Year Focus
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dei Entity File Number
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dei Entity Registrant Name
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Triller Group Inc.
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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7119 West Sunset Boulevard
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us-gaap Nature Of Operations
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 59.35pt; text-align: justify; text-indent: -59.35pt"><b>NOTE 1 - DESCRIPTION OF BUSINESS </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"><i>Organization</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">Triller Group Inc. (“ILLR”, “Triller Group”, or the “Company”) (formerly AGBA Group Holding Limited (“AGBA”)) is formed in the State of Delaware, on October 15, 2024, which was established to domicile its legal jurisdiction from British Virgin Islands to the State of Delaware.</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, through its subsidiaries, currently operates a wealth and health platform, and offers a wide range of financial service and products, covering life insurance, pensions, property-casualty insurance, stock brokerage, mutual funds and lending businesses in Hong Kong. ILLR is also engaged in financial technology business and financial investments, managing an ensemble of fintech investments and healthcare investment and operating a health and wealth management platform with a broad spectrum of services and value-added information in health, insurance, investments and social sharing.</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"><i>Merger Transaction</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">On October 15, 2024, the Company consummated the merger transaction with Triller Corp., a Delaware corporation (“Triller”), pursuant to that certain Amended and Restated Agreement and Plan of Merger, dated as of August 30, 2024 (as further amended, the “Merger Agreement”), by and between AGBA, its wholly owned subsidiary AGBA Social Inc. (“Merger Sub”), Triller and Bobby Sarnevesht, as sole representative of the Triller stockholders. Details are described in note 4.</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 accompanying unaudited condensed consolidated financial statements reflected the operating results of AGBA for the three and nine months ended September 30, 2024 before the completion of the merger transaction.</p>
us-gaap Use Of Estimates
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Use of Estimates and Assumptions</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s unaudited condensed consolidated financial statements include the useful lives of property and equipment, impairment of long-lived assets, allowance for expected credit losses, notes receivables, promissory notes receivable, share-based compensation, convertible promissory notes payable, warrant liabilities, provision for contingent liabilities, revenue recognition, income tax provision, deferred taxes and uncertain tax position, and allocation of expenses from the holding company.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The inputs into the management’s judgments and estimates consider the geopolitical tension, inflationary and high interest rate environment and other macroeconomic factors on the Company’s critical and significant accounting estimates. Actual results could differ from these estimates.</span></p>
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