2024 Q2 Form 10-K Financial Statement
#000121465924006961 Filed on April 16, 2024
Income Statement
Concept | 2024 Q2 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $305.0K | $2.180M | $2.249M |
YoY Change | 1227.44% | 43.94% | |
Cost Of Revenue | $47.60K | $199.4K | $199.4K |
YoY Change | -72.92% | ||
Gross Profit | $257.4K | $1.981M | $2.050M |
YoY Change | 1020.28% | 148.05% | |
Gross Profit Margin | 84.39% | 90.86% | 91.14% |
Selling, General & Admin | $242.9K | $301.0K | $359.2K |
YoY Change | 692.48% | 4723.4% | 429.29% |
% of Gross Profit | 94.36% | 15.19% | 17.52% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $106.1K | $91.34K | $91.55K |
YoY Change | 106010.0% | 21141.86% | 21289.72% |
% of Gross Profit | 41.22% | 4.61% | 4.47% |
Operating Expenses | $242.9K | $242.0K | $359.2K |
YoY Change | 692.48% | 3729.11% | 425.96% |
Operating Profit | $14.52K | $1.739M | $1.691M |
YoY Change | -289.29% | -27615.82% | 123.02% |
Interest Expense | $250.00 | ||
YoY Change | |||
% of Operating Profit | 0.01% | ||
Other Income/Expense, Net | $415.00 | $4.140K | $247.00 |
YoY Change | -116.44% | 12250.0% | |
Pretax Income | $14.94K | $1.743M | $1.691M |
YoY Change | -246.44% | -27681.17% | 123.05% |
Income Tax | $25.64K | $473.1K | $473.0K |
% Of Pretax Income | 171.62% | 27.14% | 27.97% |
Net Earnings | -$10.70K | $1.270M | $1.218M |
YoY Change | 4.92% | -20196.36% | 60.65% |
Net Earnings / Revenue | -3.51% | 58.25% | 54.15% |
Basic Earnings Per Share | $0.00 | $0.01 | |
Diluted Earnings Per Share | $0.00 | $0.00 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 132.6M shares | 132.6M shares | |
Diluted Shares Outstanding | 132.6M shares | 283.1M shares |
Balance Sheet
Concept | 2024 Q2 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $144.4K | $143.9K | $143.9K |
YoY Change | 0.75% | 31.75% | 31.75% |
Cash & Equivalents | $144.4K | $143.9K | |
Short-Term Investments | |||
Other Short-Term Assets | $1.186M | $1.117M | $1.117M |
YoY Change | 5.91% | 2.35% | 2.35% |
Inventory | $86.05K | ||
Prepaid Expenses | |||
Receivables | $1.102M | $1.102M | |
Other Receivables | $3.878M | $1.110M | $1.110M |
Total Short-Term Assets | $5.295M | $3.473M | $3.473M |
YoY Change | 298.53% | 176.55% | 176.55% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $13.91K | $168.2K | |
YoY Change | 2083.2% | 26184.38% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $1.922M | $2.238M | $2.238M |
YoY Change | 1468.11% | 351245.68% | 349598.44% |
TOTAL ASSETS | |||
Total Short-Term Assets | $5.295M | $3.473M | $3.473M |
Total Long-Term Assets | $1.922M | $2.238M | $2.238M |
Total Assets | $7.217M | $5.711M | $5.711M |
YoY Change | 397.3% | 354.52% | 354.51% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $647.3K | $358.4K | $358.4K |
YoY Change | 245.31% | 174.73% | 174.73% |
Accrued Expenses | $69.84K | $131.5K | $131.5K |
YoY Change | 0.56% | ||
Deferred Revenue | $183.8K | ||
YoY Change | -33.33% | ||
Short-Term Debt | $501.3K | $261.4K | $261.4K |
YoY Change | 289.71% | 236.04% | 236.02% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $2.481M | $1.509M | $1.509M |
YoY Change | 303.24% | 211.83% | 211.83% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $45.07K | $28.21K | $28.21K |
YoY Change | -14.43% | ||
Total Long-Term Liabilities | $45.07K | $28.21K | $28.21K |
YoY Change | -14.42% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.481M | $1.509M | $1.509M |
Total Long-Term Liabilities | $45.07K | $28.21K | $28.21K |
Total Liabilities | $2.526M | $1.537M | $1.537M |
YoY Change | 278.19% | 217.66% | 217.66% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.611M | -$2.068M | |
YoY Change | -51.27% | -37.07% | |
Common Stock | $132.6K | $132.6K | |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $4.690M | $4.174M | $4.174M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $7.217M | $5.711M | $5.711M |
YoY Change | 397.3% | 354.52% | 354.51% |
Cashflow Statement
Concept | 2024 Q2 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$10.70K | $1.270M | $1.218M |
YoY Change | 4.92% | -20196.36% | 60.65% |
Depreciation, Depletion And Amortization | $106.1K | $91.34K | $91.55K |
YoY Change | 106010.0% | 21141.86% | 21289.72% |
Cash From Operating Activities | -$35.97K | $156.7K | $201.2K |
YoY Change | -247.3% | 39.81% | 79.5% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $14.38K | $14.38K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$144.0K | -$154.3K | |
YoY Change | 161.03% | 179.72% | |
Cash From Investing Activities | -$158.4K | -$168.7K | |
YoY Change | 187.08% | 205.76% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 23.92K | 0.000 | |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -35.97K | 156.7K | $201.2K |
Cash From Investing Activities | -158.4K | -$168.7K | |
Cash From Financing Activities | 23.92K | 0.000 | |
Net Change In Cash | -12.05K | -1.680K | $32.49K |
YoY Change | -149.55% | -102.95% | -42.91% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$35.97K | $156.7K | $201.2K |
Capital Expenditures | $14.38K | $14.38K | |
Free Cash Flow | $142.3K | $186.8K | |
YoY Change | 26.98% | 66.67% |
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CY2022 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
68290 | usd |
CY2022 | us-gaap |
Operating Expenses
OperatingExpenses
|
68290 | usd |
CY2023 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
247 | usd |
CY2022 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
2 | usd |
CY2023 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
247 | usd |
CY2022 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
2 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1691003 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
758130 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
473047 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1217956 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
758130 | usd |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
132612342 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
85757267 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
283132342 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
236277267 | shares |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.009 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.009 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.004 | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.003 | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1217956 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
758130 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-17399 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1200557 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
758130 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-345524 | usd |
CY2022 | KUBR |
Shares Issued For Related Party Debt Settlement
SharesIssuedForRelatedPartyDebtSettlement
|
360000 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
758130 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
772606 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
772606 | usd |
CY2023 | us-gaap |
Partners Capital Account Contributions
PartnersCapitalAccountContributions
|
2170638 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
-17399 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4173978 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1217956 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
758130 | usd |
CY2023 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
91548 | usd |
CY2022 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
428 | usd |
CY2023 | KUBR |
Amortization Of Operating Lease Rou Assets
AmortizationOfOperatingLeaseRouAssets
|
60286 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
30177 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
1102097 | usd |
CY2023 | us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
1054963 | usd |
CY2022 | us-gaap |
Increase Decrease In Finance Receivables
IncreaseDecreaseInFinanceReceivables
|
-1 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
25617 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1087784 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
227969 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
116064 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
574012 | usd |
CY2023 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-91911 | usd |
CY2022 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
225722 | usd |
CY2023 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
114078 | usd |
CY2023 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
159744 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
201182 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
12561 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
14376 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
55172 | usd |
CY2023 | KUBR |
Increase In Rou
IncreaseInRou
|
154316 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-168692 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-55172 | usd |
CY2022 | KUBR |
Proceeds From Borrowings
ProceedsFromBorrowings
|
99519 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
99519 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
32490 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
56908 | usd |
CY2023 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2183 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
109187 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
52279 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
143860 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
109187 | usd |
CY2022 | us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
360000 | usd |
CY2023 | KUBR |
Recognized Rou Assets Through Lease Liabilities
RecognizedRouAssetsThroughLeaseLiabilities
|
154613 | usd |
CY2023 | KUBR |
Income Taxes Payable
IncomeTaxesPayable
|
473047 | usd |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_80B_eus-gaap--NatureOfOperations_z68iNkH15Rej" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 1 – <span id="xdx_829_zpuxo6jLgrVg">Organization and Nature of Business</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Kuber Resources Corporation formerly known as Uonlive Corporation (“KUBR” or the “Company”) was incorporated under the laws of the State of Nevada on January 29, 1998 as Weston International Development Corporation. On July 28, 1998, its name was changed to Txon International Development Corporation. On September 15, 2000, the Company changed its name to China World Trade Corporation. On July 2, 2008, the Company further changed its name to Uonlive Corporation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The Company ceased its former operations in early 2015. The Company has fully impaired all assets since the shutdown of its operations in 2015 and has recorded the effects of this impairment as part of its discontinued operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">On June 15, 2018, the eight judicial District Court of Nevada appointed Small Cap Compliance, LLC as custodian for Uonlive Corporations., proper notice having been given to the officers and directors of Uonlive Corporation and there was no opposition.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 10, 2019, the Company filed a certificate of revival with the state of Nevada, appointing Raymond Fu as, President, Secretary, Treasurer and Director.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 2, 2020, the Company entered into a Definitive Share Agreement whereby Raymond Fu, the sole shareholder of Asia Image Investment Limited (“Asia Image”), relinquished all his shares in Asia Image and acquired 100,000 shares of the Company. Consequently, Asia Image became a wholly-owned subsidiary of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since the major shareholder of the Company retained control of both the Company and Asia Image, the share exchange was accounted for as a reverse merger. As such, the Company recognized the assets and liabilities of Asia Image, acquired in the Reorganization, at their historical carrying amounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">On November 7, 2022, the Company acquired all shares of Kuber Resources (Hong Kong) Limited ("Kuber HK") from GRL21 Nominee Limited for one Hong Kong dollar (HKD1.00). Consequently, Kuber HK became a wholly-owned subsidiary of the Company. Kuber HK, formerly known as Star Wise Limited, was established in Hong Kong on October 21, 2022. It officially changed its name to Kuber Resources (Hong Kong) Limited on November 1, 2022, which has not commenced any operations since its inception. The acquisition of Kuber HK aims to diversify the Company's business portfolio beyond its current focus on international commodities trading conducted by Asia Image Limited.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">On December 8, 2022, the Company filed Articles of Amendment (the “<b><i>Articles of Amendment</i></b>”) to its Articles of Incorporation, as amended, with the Secretary of Nevada to change the Company’s corporate name to Kuber Resources Corporation (the “<b><i>Name Change</i></b>”). <span style="background-color: white">In connection with the Name Change, the Company’s has changed its ticker symbol from “UOLI” to the new ticker symbol “KUBR” (the “Symbol Change”). There is no change in the CUSIP number of the Company’s common stock in connection with the Name Change and Symbol Change.</span> As previously reported, the majority of issued and outstanding shares approved the Name Change and Symbol Change on September 15, 2022 by written consent. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="color: #202124; background-color: white">The Financial Industry Regulatory Authority (“</span><span style="color: #202124">FINRA<span style="background-color: white">”) </span>announced <span style="background-color: white">the effectiveness of the</span></span> Name Change and Symbol Change on December 9, 2022, which became effective in the market and for <span style="background-color: white">trading under the new name and ticker symbol on Monday, December 12, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="background-color: white">The Name Change and Symbol Change do not affect the rights of the Company’s security holders. The Company’s common stock will continue to be quoted on OTC Markets. Following the Name Change, the stock certificates, which reflect the former name of the Company, will continue to be valid and need not be exchanged. Any certificates reflecting the Name Change will be issued in due course as old stock certificates are tendered for exchange or transfer to the Company’s transfer agent.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 18, 2023, the Company acquired all shares of Grayscale Investment (Asia) Limited ("Grayscale HK") from unrelated parties for two Hong Kong dollars (HKD 2.00) per share, along with its subsidiary. Consequently, Grayscale HK became a fully-owned subsidiary of the Company. Grayscale HK was established in Hong Kong on September 31, 2021, which has not commenced any operations since its inception. Grayscale Investment (ShenZhen) Limited ("Grayscale WOFE") was established on November 1, 2021, as a wholly foreign-owned entity in the People’s Republic of China ("PRC"). Grayscale WOFE is wholly owned by Grayscale HK.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="background-color: white">The aforementioned transaction has been accounted for in accordance with the provisions of ASC 805, Business Combinations, and the related fair value adjustments have been recorded as of the acquisition date. The Company did not record any goodwill or intangible assets related to the transaction, as the acquisition consideration equaled the fair value of the identifiable net assets acquired.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="background-color: white"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="background-color: white"></span></p> <p style="font: 10pt Times New Roman; margin: 0pt 0">On October 17, 2023, the Company through its wholly owned subsidiary, incorporated Kuber Resources (Guangdong) Co., Ltd. (“Kuber Guangdong") as a wholly owned subsidiary of Graysacle WOFE in Guangdong, PRC. Kuber Guangdong<span style="background-color: white">’s scope of business includes manufacturing, sales and distribution of wood panels, as well as providing formaldehyde treatment services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">KUBR and its subsidiaries Asia Image, Kuber HK, Grayscale HK, Grayscale WOFE, Kuber Guangdong shall be collectively referred throughout as the “Company”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> | |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84B_eus-gaap--UseOfEstimates_zguvihPvl22i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span id="xdx_862_z4y0eWWIvxK">Use of Estimates</span></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 preparation of the financial statements in conformity with generally accepted accounting principles 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 amount of revenues and expenses during the reporting period. Management makes its best estimate of the outcome for these items based on information available when the financial statements are prepared. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> | |
CY2023Q4 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P5Y | |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
150520000 | shares |
CY2023Q4 | us-gaap |
Retained Earnings Appropriated
RetainedEarningsAppropriated
|
2067880 | usd |
CY2023Q4 | KUBR |
Working Capital Deficit
WorkingCapitalDeficit
|
1964114 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Gross
AccountsReceivableGross
|
1102097 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
1102097 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
16192 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1816 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2285 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1179 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
13907 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
637 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
1105 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
533 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
2159842 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-89993 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2069849 | usd |
CY2023 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
89993 | usd |
CY2023 | KUBR |
Exchange Rate Difference
ExchangeRateDifference
|
500 | usd |
CY2023 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | usd |
CY2022 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | usd |
CY2023Q4 | KUBR |
Related Parties Receivables
RelatedPartiesReceivables
|
1110135 | usd |
CY2022Q4 | KUBR |
Related Parties Receivables
RelatedPartiesReceivables
|
55172 | usd |
CY2023Q4 | KUBR |
Related Parties Payables
RelatedPartiesPayables
|
261385 | usd |
CY2022Q4 | KUBR |
Related Parties Payables
RelatedPartiesPayables
|
77785 | usd |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
500000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
500000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
500000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
500000 | shares |
CY2021Q2 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1 for 20 reverse stock splits | |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
132612342 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
132606582 | shares |
CY2023 | KUBR |
Estimated Tax Rate
EstimatedTaxRate
|
0.21 | pure |
CY2022Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
159207 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1691003 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
758130 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1691003 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
758130 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
429769 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
159207 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Research And Development
IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment
|
8267 | usd |
CY2023 | KUBR |
Effect Of Temporary Differences
EffectOfTemporaryDifferences
|
14405 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
20246 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-159207 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
473047 | usd |
CY2023Q4 | KUBR |
Receivable From Related Party
ReceivableFromRelatedParty
|
1110135 | usd |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
60286 | usd |
CY2023 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
60286 | usd |
CY2023 | KUBR |
Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
|
48079 | usd |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y4M9D | |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0478 | pure |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
154316 | usd |
CY2023Q4 | KUBR |
Operating Lease Liabilities
OperatingLeaseLiabilities
|
159744 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
94580 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
32545 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
31110 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
158235 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
7932 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
150303 | usd |
CY2023 | us-gaap |
Revenues
Revenues
|
2249288 | usd |
CY2022 | us-gaap |
Revenues
Revenues
|
1562629 | usd |
CY2023 | us-gaap |
Other Expenses
OtherExpenses
|
558532 | usd |
CY2022 | us-gaap |
Other Expenses
OtherExpenses
|
804501 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1691003 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
758130 | usd |
CY2023Q4 | us-gaap |
Assets Net
AssetsNet
|
4173978 | usd |
CY2022Q4 | us-gaap |
Assets Net
AssetsNet
|
771582 | usd |