$KDCE
KID CASTLE EDUCATIONAL CORP

2024 Q3 Form 10-Q Financial Statement

#000149315224046747 Filed on November 19, 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 $4.195K
YoY Change -92.78%
Operating Profit -$4.195K
YoY Change -94.55%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$4.195K
YoY Change -94.55%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 22.32M shares
Diluted Shares Outstanding 22.32M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.561M
Other Receivables
Total Short-Term Assets $1.561M
YoY Change 6979.97%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $1.561M
Total Long-Term Assets $0.00
Total Assets $1.561M
YoY Change -63.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $43.85K
YoY Change -93.38%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $43.85K
Total Liabilities $43.85K
YoY Change -93.41%
SHAREHOLDERS EQUITY
Retained Earnings -$6.122M
YoY Change 53.99%
Common Stock $223.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.517M
YoY Change
Total Liabilities & Shareholders Equity $1.561M
YoY Change -63.94%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$4.195K
YoY Change -94.55%
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

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dei Entity Incorporation State Country Code
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DE
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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370 Amapola Ave
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 200A
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Torrance
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CA
dei Entity Address Postal Zip Code
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dei Entity Registrant Name
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KID CASTLE EDUCATIONAL CORPORATION
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CityAreaCode
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dei Entity Current Reporting Status
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NatureOfOperations
<p id="xdx_80A_eus-gaap--NatureOfOperations_zdHino2Rpf17" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1. <span id="xdx_825_zgr4imFa7JFl">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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"><b>Nature of Business</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"><span style="text-decoration: underline">The Company and Nature of Business</span></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; background-color: white">Kid Castle Educational Corporation, a Delaware corporation, (“Kid Castle,” “the Company,” “We,” “KDCE,” “Us” or “Our’) operates and manages a portfolio of real estate properties, digital assets, and other in-demand properties. Kid Castle engages in rollup and consolidation of real estate, Biopharma and digital assets and operations.</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; background-color: white">Kid Castle was the result of a share exchange transaction, commonly referred to as a reverse merger, pursuant to which shareholders of an offshore operating company take control of a U.S. company that has no operations (commonly referred to as a shell company), and the offshore operating company becomes a subsidiary of the U.S. company. In KDCE case, the offshore company was Higoal Developments Ltd., which was the parent company of Kid Castle Internet Technologies Limited and Kid Castle Education Software Development Co. Limited, KDCE’s operating companies that run our English language instruction business. The U.S. or shell company, at the time of the share exchange, was King Ball International Technology Corporation.</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; background-color: white">Kid Castle used to be a Florida corporation until the company voluntarily dissolved its Florida registration with intention to simultaneously incorporate in Delaware and convert into a Delaware corporation. Although the company immediately finalized its registration effort to convert into a Delaware Corporation, the company’s registered agent who was supposed to submit the registration package to the Delaware Secretary of State for certification, failed to make a timely submission. Later in January 2019, when the company realized that the Delaware incorporation/registration package/process was never submitted to the Delaware Secretary of State nor completed in any other way or form, the Company went ahead and resubmitted the required registration package and was then formally re-incorporated in Delaware and convert into a Delaware corporation. Thus, the company was formally incorporated in Delaware and converted into a Delaware Corporation in January 2019.</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; background-color: white">The re-incorporation in Delaware, which occurred in January 2019, has placed at risk, voidable and unenforceable, all and any liabilities that may have accrued, including any material agreements the Company may have executed during the period between March 22, 2011 and January 2019. To the best of our knowledge, no such liabilities that were accrued and no material agreement were entered into by the company during the period between March 22, 2011 and January 2019. In addition, there could be penalties or legal liabilities that may have accrued as a result of conducting business from 2011 to 2019 without properly registering with any State. To the best of our knowledge, as at September 7, 2020, no such penalties or liabilities has accrued to the company accrued as a result of conducting business from 2011 to 2019 without properly registering with any State. However, there is no guarantee that such penalties or liabilities would not accrue or arise in the future.</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; background-color: white">On October 21, 2019, pursuant to a stock purchase agreement dated October 2, 2019, Cannabinoid Biosciences, Inc., a California corporation, purchased one (<span id="xdx_90F_eus-gaap--PreferredStockSharesOutstanding_iI_pn6n6_c20191021__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CannabinoidBiosciencesIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredStockMember_zHaT87kqqeb7" title="Preferred stock, shares outstanding">1</span>) million shares of its preferred shares (<span id="xdx_904_eus-gaap--PreferredStockConversionBasis_c20191021__20191021__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CannabinoidBiosciencesIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredStockMember_zucq9DSEsTvd" title="Preferred stock, conversion, description">one preferred share is convertible 1,000 share of common stocks</span>) of the Company, representing <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20191021__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CannabinoidBiosciencesIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredStockMember_zEkOVhwqCyuf" title="Ownership percentage">97.82</span>% of our total issued and outstanding voting shares of common stock and preferred stock. Simultaneously with the purchase, the officers and directors of the Company resigned. Frank I Igwealor, Chairman and CEO, Secretary, Treasurer, and Director; Patience C Ogbozor, Director; and Dr. Solomon SK Mbagwu, MD, Director, were elected to replace them. Following the share sales to Cannabinoid Biosciences, Inc., the purchaser converted <span id="xdx_900_eus-gaap--ConversionOfStockSharesConverted1_pid_c20191021__20191021__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CannabinoidBiosciencesIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredStockMember_zZYJywev8qH9" title="Conversion of stock, shares converted">900,000</span> of the preferred shares for <span id="xdx_901_eus-gaap--ConversionOfStockSharesIssued1_pid_c20191021__20191021__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CannabinoidBiosciencesIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zbbeVkFB4mq" title="Conversion of stock, shares issued">900,000,000</span> shares of the Company’s current outstanding shares of common stock.</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"></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">Following the consummation of the October 21, 2019 transactions, the Company decided to restart filing important information immediately. The Company used the Form 10-12(g) to register its common stock with the SEC.</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">On September 15, 2020, Kid Castle Educational Corporation (the “Company”) entered into a stock purchase agreement with certain corporation related to our President and CEO with respect to the private placement of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesPurchaseOfAssets_pid_c20200915__20200915__srt--TitleOfIndividualAxis__custom--PresidentAndCEOMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zfVAi1cNZgy7" title="Number of shares issued">900,000</span> shares of its preferred stock at a purchase price of $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValuePurchaseOfAssets_c20200915__20200915__srt--TitleOfIndividualAxis__custom--PresidentAndCEOMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z0xFyJgrfZI" title="Number of shares issued, value">3</span> in cash and a transfer of <span id="xdx_909_eus-gaap--SaleOfStockPercentageOfOwnershipAfterTransaction_pid_dp_uPure_c20200915__20200915__srt--TitleOfIndividualAxis__custom--PresidentAndCEOMember_zjWvwAC3Rqf3" title="Percentage after sale transaction">100</span>% interest in, and control of Community Economic Development Capital, LLC (a California Limited Liability Company). The shares were issued to the investors without registration under the Securities Act of 1933 based upon exemptions from registration provided under Section 4(2) of the Act and Regulation D promulgated thereunder. The issuance did not involve any public offering; no general solicitation or general advertising was used in connection with the offering. Community Economic Development Capital, is a specialty real estate holding company for specialized assets including, affordable housing, opportunity zones properties, medical real estate investments, related commercial facilities, industrial and commercial real estate, and other real estate related services.</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">Similarly, on September 16, 2020, as part of its purchase of unregistered securities from certain corporation related to our President and CEO, the Company, received $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValuePurchaseOfAssets_c20200916__20200916__srt--TitleOfIndividualAxis__custom--PresidentAndCEOMember__us-gaap--SubsidiarySaleOfStockAxis__custom--UnregisteredSecuritiesMember__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredStockMember_zBefXEu4ns9a" title="Number of shares issued, value">3.00</span> in cash and <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesPurchaseOfAssets_pid_c20200916__20200916__srt--TitleOfIndividualAxis__custom--PresidentAndCEOMember__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredStockMember__us-gaap--SubsidiarySaleOfStockAxis__custom--UnregisteredSecuritiesMember_z7nLuPEu1cE2" title="Number of shares issued">1,000,000</span> shares of its preferred stock, and in exchange transferred <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20200916__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CommunityEconomicDevelopmentCapitalLLCMember_zw7YLFeg4QSd" title="Ownership percentage">100</span>% interest in, and control of Community Economic Development Capital, LLC (“CED Capital”), a California Limited Liability Company, and <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20200916__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CannabinoidBiosciencesIncMember_zhxKdVyeyqG3" title="Ownership percentage">97</span>% of the issued and outstanding shares of Cannabinoid Biosciences, Inc. (“CBDX”), to GiveMePower Corporation, a Nevada corporation. This transaction gave the Company <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20200916__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GiveMePowerCorporationMember_z9xzvJh1u766" title="Ownership percentage">88</span>% of the voting control of GiveMePower.</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">On April 21, 2021, the Company sold Cannabinoid Biosciences, Inc. (“CBDX”), a California corporation, to Premier Information Management, Inc. for $<span id="xdx_906_eus-gaap--ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates_pp0p0_c20210421__20210421__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CannabinoidBiosciencesIncMember_zYk30U07RZEl" title="Proceeds from sale of subsidiaries">1</span> in cash. As further consideration pursuant to the stated sales, CBDX returned Kid Castle Educational Inc., the parent Company of GMPW, the <span id="xdx_901_eus-gaap--StockRepurchasedDuringPeriodShares_pid_c20210421__20210421__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CannabinoidBiosciencesIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredStockMember_zF9Rger1Lrfh" title="Shares returned during period, shares">100,000</span> shares of KDCE preferred stock and <span id="xdx_906_eus-gaap--StockRepurchasedDuringPeriodShares_pid_c20210421__20210421__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CannabinoidBiosciencesIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zApXOGfkLUm5" title="Shares returned during period, shares">900,000,000</span> shares of KDCE common stock that CBDX bought in October of 2019. Pursuant to the April 21, 2021 transaction, CBDX ceased from being a subsidiary of GMPW, effective April 1, 2021.</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">On December 30, 2021, in exchange for its <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211230__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GiveMePowerCorporationMember_zt2FkD4WdPra" title="Ownership percentage">87</span>% control block in GiveMePower Corporation, the Company received <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211230__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlpharidgeCapitalLLCMember_zIhSxmLbo3xj" title="Ownership percentage">100</span>% stake in Alpharidge Capital LLC from GiveMePower, in a cashless transaction, resulting in each public company going its separate way as an independent company.</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">On January 12, 2024, due to the company’s need to simplify its balance sheet in order to approach the regulators to remove the Caveat Emptor tag from the company’s OTC Market profile, the company sold Alpharidge Capital LLC, its main operating subsidiary to American Community Capital, LP., a California limited partnership controlled by our President and CEO Mr. Frank I Igwealor, in exchange for cash payment of $ <span id="xdx_905_eus-gaap--AccountsPayableCurrentAndNoncurrent_iI_c20240112__dei--LegalEntityAxis__custom--AmericanCommunityCapitalLPMember_z33sJKgrqCRk" title="Cash payable">1,560,992</span> payable in two hundred and forty (<span id="xdx_900_ecustom--NumberOfMonthlyPayments_uInteger_c20240112__20240112__dei--LegalEntityAxis__custom--AmericanCommunityCapitalLPMember_zJcrpmmYq5P2" title="Number of monthly payments">240</span>) equal monthly payments of $<span id="xdx_906_eus-gaap--DebtInstrumentPeriodicPayment_c20240112__20240112__dei--LegalEntityAxis__custom--AmericanCommunityCapitalLPMember_zRX6w2S2ySnl" title="Payable exchange for cash, monthly payment">6510</span>, beginning on July 1, 2024. As at the time of confirmation of the transaction, the combined average market capitalization of NIHK and KDCE was $<span id="xdx_907_eus-gaap--MarketableSecurities_iI_c20240112__dei--LegalEntityAxis__custom--AmericanCommunityCapitalLPMember_zSctIlJSquEj" title="Market capitalization value">1,086,677</span> ($<span id="xdx_907_eus-gaap--MarketableSecurities_iI_c20240112__srt--ConsolidatedEntitiesAxis__srt--SubsidiariesMember_zNaaxXN33IZ" title="Market capitalization value">729,482</span> for NIHK, and $<span id="xdx_90F_eus-gaap--MarketableSecurities_iI_c20240112__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zgjHv6bu4pQd" title="Market capitalization value">357,195</span> for KDCE), showing the FAIR MARKET value of the two parents of Alpharidge to have a combined market value of $<span id="xdx_901_eus-gaap--MarketableSecurities_iI_c20240112__dei--LegalEntityAxis__custom--AmericanCommunityCapitalLPMember_zGa6JgGjXXOk" title="Market capitalization value">1,086,677</span>.</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">The consolidated financial statements of the Company therefore does not include the operating results of Alpharidge Capital LLC. (“Alpharidge”), which has been the main operating subsidiary of the company in previous reporting periods. The company will continue to make acquisitions and intends to consolidate others subsidiaries in which Kid Castle has a controlling voting interest and entities consolidated under the variable interest entities (“VIE”) provisions of ASC 810, “Consolidation” (“ASC 810”), after elimination of intercompany transactions and accounts.</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"></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"><b><span style="text-decoration: underline">Principles of Consolidation</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">The consolidated financial statements include the accounts of the Company and its subsidiaries, in which the Company has a controlling voting interest and entities consolidated under the variable interest entities (“VIE”) provisions of ASC 810, “Consolidation” (“ASC 810”). Inter-company balances and transactions have been eliminated upon consolidation.</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">ASC 810 requires that the investor with the controlling financial interest should consolidate the investee/affiliate. ASC 810-10 requires that an equity interest investor consolidates a VIE when it retains an investment in the entity, is considered a variable interest investor in the entity, and is the primary beneficiary of the entity. An investor in a VIE is a “variable interest beneficiary” when, per an arrangement’s governing documents, the investor will absorb a portion of the VIE’s expected losses or will receive a portion of the entity’s “residual returns.” The variable interest beneficiary retaining a controlling financial interest in the VIE is designated as its “primary beneficiary” and must consolidate the VIE. A variable interest beneficiary retains a “controlling financial interest” in a VIE when that beneficiary retains the power to direct the activities of the VIE that have the greatest influence over the VIE’s economic performance and retains an obligation to absorb the VIE’s significant losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.</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>
us-gaap Revenues
Revenues
0 usd
us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
1560992 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6121517 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_845_eus-gaap--UseOfEstimates_zCX9eB3vKSIb" 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 id="xdx_866_zwbq7wB304ya">Use of Estimates and Assumptions</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; background-color: white">The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those 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>
CY2024Q3 us-gaap Cash
Cash
0 usd
CY2023Q4 us-gaap Cash
Cash
7004 usd
us-gaap Advertising Expense
AdvertisingExpense
0 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zqzqrZceYvQg" 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><i><span id="xdx_868_zRnPM50oJuP9">Concentrations of Credit Risk</span></i></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">The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. The Company maintains cash balances at financial institutions within the United States which are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to limits of approximately $<span id="xdx_904_eus-gaap--CashFDICInsuredAmount_iI_c20240930_zryfGyU2l7n3" title="Cash FDIC insured amount">250,000</span>. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash bank accounts. It is possible that at times, the company’s cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. In such situation, the Company’s management would assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures would be addressed and mitigated.</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"></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>
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
us-gaap Payments For Rent
PaymentsForRent
0 usd
CY2024Q3 us-gaap Contractual Obligation
ContractualObligation
0 usd
us-gaap Net Income Loss
NetIncomeLoss
1517143 usd
us-gaap Net Income Loss
NetIncomeLoss
668001 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1517143 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
668001 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22324706 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22324706 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22324706 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22324706 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.0680
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.0680
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.0299
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.0299
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1284638 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-870671 usd
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.05 pure
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-305866 usd
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-207303 usd
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.005 pure
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
30587 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
20730 usd
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.255 pure
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1559917 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1057243 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2024Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
6121517 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4146051 usd
CY2024Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1591594 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1077973 usd
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1591594 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1077973 usd
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1591594 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1077973 usd
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1591594 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1077973 usd
us-gaap Other Operating Income
OtherOperatingIncome
1591594 usd
CY2024Q3 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 usd
CY2023Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 usd
CY2024Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
6121517 usd
KDCE Operating Loss Carryforwards Expiration Year
OperatingLossCarryforwardsExpirationYear
2033
CY2024Q3 us-gaap Inventory Real Estate
InventoryRealEstate
0.00 usd
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
100000 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
100000 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
100000 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
100000 shares
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
22324706 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
22324706 shares
CY2024Q3 KDCE Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
0 shares
CY2023Q4 KDCE Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
0 shares

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0001493152-24-046747.txt Edgar Link pending
0001493152-24-046747-xbrl.zip Edgar Link pending
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kdce-20240930_cal.xml Edgar Link unprocessable
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form10-q_htm.xml Edgar Link completed
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