$KRFG
OneSolution Technology Inc.

2024 Q3 Form 10-Q Financial Statement

#000168316824005861 Filed on August 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024 Q1
Revenue $19.23K $19.19K
YoY Change 0.35% 50.42%
Cost Of Revenue $11.54K $11.51K
YoY Change 0.35% 50.42%
Gross Profit $7.694K $7.676K
YoY Change 0.37% 50.42%
Gross Profit Margin 40.0% 40.0%
Selling, General & Admin $23.78K $103.4K
YoY Change -83.15% 130.69%
% of Gross Profit 309.1% 1347.58%
Research & Development $0.00 $66.00K
YoY Change -100.0%
% of Gross Profit 0.0% 859.82%
Depreciation & Amortization $649.00 $648.00
YoY Change 0.31% 0.31%
% of Gross Profit 8.44% 8.44%
Operating Expenses $23.78K $169.4K
YoY Change -89.06% 277.88%
Operating Profit -$16.09K -$161.8K
YoY Change -92.33% 307.09%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $2.514M $112.00
YoY Change -2596.13% -100.11%
Pretax Income $2.498M -$161.7K
YoY Change -904.51% 15.17%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $2.498M -$161.7K
YoY Change -904.51% 15.17%
Net Earnings / Revenue 12986.31% -842.42%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 5.784B shares 5.784B shares 5.484B shares
Diluted Shares Outstanding 8.784B shares 8.764B shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $0.00 $7.049K $1.556K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $0.00 $80.79K $83.93K
Receivables $0.00
Other Receivables
Total Short-Term Assets $0.00 $125.6K $107.7K
YoY Change -100.0% -77.09% -80.11%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $1.881K $2.524K
YoY Change -100.0% -57.81% -50.46%
Goodwill
YoY Change
Intangibles $0.00 $9.382K $10.49K
YoY Change -100.0% -32.21% -29.8%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $11.26K $13.01K
YoY Change -100.0% -97.42% -97.63%
TOTAL ASSETS
Total Short-Term Assets $0.00 $125.6K $107.7K
Total Long-Term Assets $0.00 $11.26K $13.01K
Total Assets $0.00 $136.9K $120.7K
YoY Change -100.0% -86.09% -88.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $57.74K $57.62K
YoY Change -100.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $695.2K $3.336M $3.153M
YoY Change -76.66% 20.81% 15.81%
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 $695.2K $3.336M $3.153M
Total Long-Term Liabilities
Total Liabilities $695.2K $3.336M $3.153M
YoY Change -76.66% 20.81% 15.81%
SHAREHOLDERS EQUITY
Retained Earnings -$7.055M -$9.553M -$9.391M
YoY Change -15.35% 19.05% 19.12%
Common Stock $578.4K $578.4K $563.4K
YoY Change -89.45% -89.45% -89.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$695.2K -$3.199M -$3.033M
YoY Change
Total Liabilities & Shareholders Equity $0.00 $136.9K $120.7K
YoY Change -100.0% -86.09% -88.92%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $2.498M -$161.7K
YoY Change -904.51% 15.17%
Depreciation, Depletion And Amortization $649.00 $648.00
YoY Change 0.31% 0.31%
Cash From Operating Activities -$37.22K
YoY Change 49.38%
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 $47.53K
YoY Change 91.84%
NET CHANGE
Cash From Operating Activities -$37.22K
Cash From Investing Activities
Cash From Financing Activities $47.53K
Net Change In Cash $5.493K
YoY Change -273.5%
FREE CASH FLOW
Cash From Operating Activities -$37.22K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2024Q2 us-gaap Basis Of Accounting
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<p id="xdx_804_eus-gaap--BasisOfAccounting_z7tPl8iA8fI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE <span style="font-family: Times New Roman, Times, Serif">－</span> 1 <span id="xdx_82B_zMKwKa2geR5i">BASIS OF PRESENTATION</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. Operating results for the interim period ended June 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2024. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with Management’s Discussion and Analysis, and the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the SEC on July 16, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2024Q2 us-gaap Asset Impairment Charges
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CY2023Q2 us-gaap Asset Impairment Charges
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CY2024Q2 us-gaap Use Of Estimates
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<p id="xdx_84F_eus-gaap--UseOfEstimates_zKDwJ0TH2dbc" style="font: 10pt Times New Roman, Times, Serif; margin: 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: top"> <td style="width: 5%"><span style="font-family: Symbol; font-size: 10pt">·</span></td> <td style="width: 95%; text-align: justify"><span style="font-size: 10pt"><span id="xdx_867_zivgYKx7nUnh">Use of estimates and assumptions</span></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In preparing these unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates. If actual results significantly differ from the Company’s estimates, the Company’s financial condition and results of operations could be materially impacted. Significant estimates in the period include the valuation and useful lives of intangible assets and deferred tax valuation allowance.</p>
CY2024Q2 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
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CY2023Q2 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
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CY2024Q2 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
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CY2024Q2 us-gaap Impairment Of Intangible Assets Finitelived
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CY2023Q2 us-gaap Impairment Of Intangible Assets Finitelived
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CY2024Q2 us-gaap Adjustment For Amortization
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CY2023Q2 us-gaap Adjustment For Amortization
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CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2024Q2 KRFG Accumulated Depreciation Foreign Translation Difference
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113 usd
CY2024Q1 KRFG Accumulated Depreciation Foreign Translation Difference
AccumulatedDepreciationForeignTranslationDifference
160 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1881 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2524 usd
CY2024Q2 us-gaap Depreciation
Depreciation
648 usd
CY2023Q2 us-gaap Depreciation
Depreciation
646 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-14409 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-13254 usd
CY2024Q2 KRFG Foreign Translation Adjustment Intangible Assets
ForeignTranslationAdjustmentIntangibleAssets
22 usd
CY2024Q1 KRFG Foreign Translation Adjustment Intangible Assets
ForeignTranslationAdjustmentIntangibleAssets
48 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9382 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10486 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1126 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
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1123 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
3382 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
4508 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
256 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
256 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
256 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
725 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9382 usd
CY2024Q2 KRFG Due From Related Party
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12186 usd
CY2024Q1 KRFG Due From Related Party
DueFromRelatedParty
12160 usd
CY2024Q2 KRFG Due To Related Parties
DueToRelatedParties
2227664 usd
CY2024Q1 KRFG Due To Related Parties
DueToRelatedParties
2180113 usd
CY2024Q2 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
36100000000 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
36000000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5784167213 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5784167213 shares
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5634167213 shares
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5634167213 shares
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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-161652 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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-140360 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5764386993 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5484167213 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8764386993 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8484167213 shares
CY2024Q2 us-gaap Earnings Per Share Basic
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-0.00
CY2023Q2 us-gaap Earnings Per Share Basic
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CY2024Q2 us-gaap Earnings Per Share Diluted
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-0.00
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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-161652 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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-140360 usd
CY2024Q2 us-gaap Current State And Local Tax Expense Benefit
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CY2023Q2 us-gaap Current State And Local Tax Expense Benefit
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0 usd
CY2024Q2 us-gaap Current Foreign Tax Expense Benefit
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CY2023Q2 us-gaap Current Foreign Tax Expense Benefit
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CY2024Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
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0 usd
CY2023Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2024Q2 us-gaap Deferred Foreign Income Tax Expense Benefit
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0 usd
CY2023Q2 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q2 KRFG Deferred Tax Assets Operating Loss Carryforwards Us Tax Regime
DeferredTaxAssetsOperatingLossCarryforwardsUsTaxRegime
404280 usd
CY2024Q1 KRFG Deferred Tax Assets Operating Loss Carryforwards Us Tax Regime
DeferredTaxAssetsOperatingLossCarryforwardsUsTaxRegime
399210 usd
CY2024Q2 KRFG Deferred Tax Assets Operating Loss Carryforwards Hong Kong Tax Regime
DeferredTaxAssetsOperatingLossCarryforwardsHongKongTaxRegime
314356 usd
CY2024Q1 KRFG Deferred Tax Assets Operating Loss Carryforwards Hong Kong Tax Regime
DeferredTaxAssetsOperatingLossCarryforwardsHongKongTaxRegime
313096 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
718636 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
712306 usd
CY2024Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2024Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2024Q2 us-gaap Cost Of Revenue
CostOfRevenue
11513 usd
CY2023Q2 us-gaap Cost Of Revenue
CostOfRevenue
7654 usd
CY2024Q2 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
12186 usd
CY2024Q1 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
12160 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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false

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