2022 Q4 Form 10-K Financial Statement

#000121390022063656 Filed on October 13, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q2 2022
Revenue $64.19K $3.238M
YoY Change -93.06% 682.39%
Cost Of Revenue $25.80K $1.005M
YoY Change -91.6% 966.53%
Gross Profit $38.39K $2.233M
YoY Change -93.79% 598.62%
Gross Profit Margin 59.81% 68.96%
Selling, General & Admin $215.1K $9.788M
YoY Change -76.61% 1302.25%
% of Gross Profit 560.21% 438.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.35K $65.70K
YoY Change 2536.44%
% of Gross Profit 42.59% 2.94%
Operating Expenses $14.14K $59.94K
YoY Change -17.58% -91.41%
Operating Profit -$176.7K -$7.555M
YoY Change -41.35% 1896.57%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $529.00 -$6.703K
YoY Change -125.8% -3291.9%
Pretax Income -$176.2K -$7.562M
YoY Change -41.92% 1899.45%
Income Tax $1.576K
% Of Pretax Income
Net Earnings -$176.2K -$7.564M
YoY Change -41.96% 1899.86%
Net Earnings / Revenue -274.42% -233.59%
Basic Earnings Per Share $0.00 -$0.03
Diluted Earnings Per Share $0.00 -$0.03
COMMON SHARES
Basic Shares Outstanding 300.0M shares 256.2M shares
Diluted Shares Outstanding 300.0M shares 256.2M shares

Balance Sheet

Concept 2022 Q4 2022 Q2 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.3K $356.7K
YoY Change 30.59%
Cash & Equivalents $118.3K $356.7K $356.7K
Short-Term Investments
Other Short-Term Assets $9.160K $33.84K
YoY Change 284.98%
Inventory $1.660K $3.032K $3.030K
Prepaid Expenses $9.160K $33.84K
Receivables
Other Receivables $31.11K $30.79K
Total Short-Term Assets $160.2K $424.3K $424.3K
YoY Change 19.37% 19.37%
LONG-TERM ASSETS
Property, Plant & Equipment $120.6K $109.2K $186.3K
YoY Change 62.73% 17.7%
Goodwill
YoY Change
Intangibles $4.994K $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $155.7K $186.3K $186.3K
YoY Change 17.7% 17.7%
TOTAL ASSETS
Total Short-Term Assets $160.2K $424.3K $424.3K
Total Long-Term Assets $155.7K $186.3K $186.3K
Total Assets $315.9K $610.7K $610.7K
YoY Change 18.85% 18.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.884K $40.81K $40.81K
YoY Change -77.34% -77.34%
Accrued Expenses $51.11K $126.0K $160.9K
YoY Change 5.48% -5.69%
Deferred Revenue
YoY Change
Short-Term Debt $307.3K $143.3K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.800M $1.630M $1.630M
YoY Change 89.79% 89.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.250K $2.990K
YoY Change -92.53%
Total Long-Term Liabilities $7.250K $2.990K
YoY Change -92.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.800M $1.630M $1.630M
Total Long-Term Liabilities $7.250K $2.990K
Total Liabilities $1.807M $1.633M $1.539M
YoY Change 81.68% 81.54%
SHAREHOLDERS EQUITY
Retained Earnings -$8.284M -$7.846M
YoY Change 2287.51%
Common Stock $300.0K $300.0K
YoY Change 82.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.346M -$928.8K -$928.8K
YoY Change
Total Liabilities & Shareholders Equity $315.9K $610.7K $610.7K
YoY Change 18.85% 18.85%

Cashflow Statement

Concept 2022 Q4 2022 Q2 2022
OPERATING ACTIVITIES
Net Income -$176.2K -$7.564M
YoY Change -41.96% 1899.86%
Depreciation, Depletion And Amortization $16.35K $65.70K
YoY Change 2536.44%
Cash From Operating Activities -$478.9K $28.57K
YoY Change -91.84%
INVESTING ACTIVITIES
Capital Expenditures -$940.00 $111.9K
YoY Change 60.71%
Acquisitions
YoY Change
Other Investing Activities $110.00
YoY Change
Cash From Investing Activities $1.050K -$111.9K
YoY Change 60.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $30.98K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 128.2K $179.7K
YoY Change
NET CHANGE
Cash From Operating Activities -478.9K $28.57K
Cash From Investing Activities 1.050K -$111.9K
Cash From Financing Activities 128.2K $179.7K
Net Change In Cash -349.6K $83.56K
YoY Change -69.41%
FREE CASH FLOW
Cash From Operating Activities -$478.9K $28.57K
Capital Expenditures -$940.00 $111.9K
Free Cash Flow -$477.9K -$83.31K
YoY Change -129.68%

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-7549 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
83556 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
273116 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
273116 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
356672 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
273116 usd
CY2022 us-gaap Stock Issued1
StockIssued1
106680 usd
CY2022 lddc Share Issuance In Exchange For Equipment
ShareIssuanceInExchangeForEquipment
15240 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
70914 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
1576 usd
CY2021Q4 us-gaap Shares Issued
SharesIssued
300000000 shares
CY2021Q4 lddc Exchange Interest Rate Percentage
ExchangeInterestRatePercentage
1 pure
CY2021Q3 lddc Equity Method Investments Ownership Percentage
EquityMethodInvestmentsOwnershipPercentage
1 pure
CY2020Q3 lddc Equity Method Investments Ownership Percentage
EquityMethodInvestmentsOwnershipPercentage
0.90 pure
CY2021Q1 lddc Equity Method Investments Ownership Percentage
EquityMethodInvestmentsOwnershipPercentage
0.80 pure
CY2021Q2 lddc Equity Method Investments Ownership Percentage
EquityMethodInvestmentsOwnershipPercentage
0.80 pure
CY2021Q3 lddc Equity Method Investments Ownership Percentage
EquityMethodInvestmentsOwnershipPercentage
0.51 pure
CY2022Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
74558 usd
CY2022Q2 us-gaap Non Investment Assets Less Non Investment Liabilities Percent Of Net Assets
NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets
1 pure
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
82551 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
7415383 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
295653 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>D. Use of estimates</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of 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, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the inventory valuation allowance and the treatment of the shares issued. These estimates are often based on complex judgments and assumptions that management believes to be reasonable but are inherently uncertain and unpredictable. Actual results could differ from these estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td><span style="font-size: 10pt"><i>F. Concentration of credit risk</i></span></td></tr> </table><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">The Company maintains cash in state-owned banks in China. In China, the insurance coverage of each bank is RMB500,000 (approximately USD$75,000). As of June 30, 2022 and 2021, the Company had $93,510 and $74,512 cash in excess of the insured amount, respectively.</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; text-align: justify; margin: 0pt 0">During the years ended June 30, 2022 and 2021, no customer generated more than 10% of revenue.</p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span>During the year ended June 30, 2022, the Company had four major supplier that accounted for over 10% of its total cost of revenue.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Year ended June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Percentage of</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cost of<br/> revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cost of<br/> revenue</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">A</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">306,404</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">28</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">227,615</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">198,839</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127,848</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left">%</td></tr> </table><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">No supplier accounted for over 10% of total purchase during the year ended June 30, 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
500000 cny
CY2022 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
75000 usd
CY2022Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
93510 usd
CY2021Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
74512 usd
CY2022 lddc Revenue Generated Percentage
RevenueGeneratedPercentage
0.10 pure
CY2021 lddc Revenue Generated Percentage
RevenueGeneratedPercentage
0.10 pure
CY2022 lddc Cost Of Revenue Percentage
CostOfRevenuePercentage
0.10 pure
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
7561989 usd
CY2021 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
378204 usd
CY2021 lddc Supplier Purchase Percentage
SupplierPurchasePercentage
0.10 pure
CY2022 lddc Office Equipment And Furniture
OfficeEquipmentAndFurniture
P3Y
CY2022 us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><i>K. Revenue recognition</i></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">The Company adopted FASB ASC Section 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the sales of products and services by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied.</p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">The Company recognizes revenue when the amount of revenue can be reliably measured, it is probable that economic benefits will flow to the entity, and specific criteria have been met for each of the Company’s activities as described below.</p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="text-decoration:underline">Service and Product Revenue</span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company sells healthcare package, including healthcare consulting services and healthcare products. Customers may purchase healthcare services package, or healthcare services combined with nutritional products. Currently all sales of products are bundled with healthcare services. The combination of services and products are generally capable of being distinct and accounted for as separate performance obligations. For the sale of healthcare package that includes services and products, the Company allocates revenues based on their relative selling prices.</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 sells healthcare service package to a customer which represents the rights to services purchased by the Company. The delivery of healthcare service package to a customer represents a separate performance obligation. The Company’s policy is to recognize the service revenue when service is provided, at that time the sold healthcare service package, ownership and risk of loss have been transferred to the customer. Accordingly,</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">revenue is recognized at the point in time when the service is provided. Service revenue is recognized when the healthcare service package has been delivered to the customer as no remaining performance obligation after the delivery of healthcare service package.</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">Management regularly reviews the sales return and allowance based on historical experience. Any subsequent sales return and cancellations are recognized upon notification from the customers. The amount of sales return allowance for the sale of healthcare service package amounted to $4,817 and $0 as of June 30, 2022 and June 30, 2021, respectively. Management’s estimated sales return were 1.09% and 0%, respectively, of the total service revenue for the year ended June 31, 2022 and 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Product revenue mainly resulted from the sale of healthcare and nutritional products, including Collagen peptide, Calcium tablet and other products. The Company recognized revenue when the product has been delivered, ownership and risk of loss have been transferred to the customer. The Company accepts returns in case of the products are well packaged and can be resold. Management regularly reviews the sales return and allowance based on historical experience. The amount of sales return allowance for the sale of healthcare products amounted to $997 and $0 as of June 30, 2022 and June 30, 2021, respectively. Management’s estimated sales return were 1.35% and 0%, respectively, of the total product revenue for the year ended June 30, 2022 and 2021.</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 typically collects fees before delivery of healthcare package. Amounts received from a customer before the delivery of healthcare package are recorded as deferred revenue on the Consolidated Balance Sheets.</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">Cost of Revenues</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">Cost of service consists primarily of the cost of healthcare service package purchased from third party healthcare service providers to fulfill a contract with a customer, and no asset was recognized from the costs incurred to obtain or fulfill a contract with a customer.</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">Cost of products consists primarily of the cost of healthcare products purchased from suppliers. Cost of products is recognized when the product has been delivered to the customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022Q2 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
33837 usd
CY2021Q2 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
8786 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.21 pure
CY2022Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
104458 usd
CY2021Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
35058 usd
CY2022Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
70561 usd
CY2021Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
34623 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
175019 usd
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
69681 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
65786 usd
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2556 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
109233 usd
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
67125 usd
CY2022 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
65700 usd
CY2022 us-gaap Operating Expenses
OperatingExpenses
59937 usd
CY2022 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
5763 usd
CY2021 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
2492 usd
CY2022 us-gaap Line Of Credit Facility Maximum Monthend Outstanding Amount
LineOfCreditFacilityMaximumMonthendOutstandingAmount
143333 usd
CY2021Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
30583 usd
CY2022 lddc Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
0.165 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.25 pure
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
146606 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.25 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.25 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.25 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.25 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
955683 usd
CY2022Q2 srt Financing Receivable Before Allowance For Credit Loss To Total Percent
FinancingReceivableBeforeAllowanceForCreditLossToTotalPercent
1 pure
CY2022Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
238921 usd
CY2021Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
73913 usd
CY2022Q2 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Goodwill And Intangible Assets
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceGoodwillAndIntangibleAssets
165008 usd
CY2021Q2 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Goodwill And Intangible Assets
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceGoodwillAndIntangibleAssets
73913 usd
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
146606 usd
CY2022 lddc Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance1
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance1
1 pure
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration
48123 usd
CY2021Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration
17336 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
30787 usd
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
17336 usd
CY2021Q1 lddc Leased Office Space
LeasedOfficeSpace
1500 sqm
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
106680 usd
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
700000 cny
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
74946 usd
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
480000 cny
CY2021Q2 lddc Leased Office Space
LeasedOfficeSpace
700 sqm
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
9295 usd
CY2022Q2 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P1Y
CY2022 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
89168 usd
CY2021 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
13212 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
77106 usd
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
91198 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
34928 usd
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
51185 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2986 usd
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
40013 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
37914 usd
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
91198 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
88300 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
13212 usd
CY2022 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
34081 usd
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M24D
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2021 lddc Determining Present
DeterminingPresent
0.0475 pure
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
35833 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2986 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
38819 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
905 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
37914 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
106680 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
700000 cny
CY2021Q3 us-gaap Variable Lease Payment
VariableLeasePayment
106680 usd
CY2021Q3 us-gaap Variable Lease Payment
VariableLeasePayment
700000 cny
CY2021Q3 us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
15240 usd
CY2021Q3 us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
100000 cny
CY2021Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
30480 usd
CY2021Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
200000 cny
CY2022 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-7517365 usd
CY2021 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-328626 usd
CY2022 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
256169070 shares
CY2021 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
164420147 shares
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.029
CY2021 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.002
CY2022Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
usd
CY2021Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
usd
CY2021Q2 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
usd
CY2021Q2 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.002
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
164420147 shares
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
CY2021 us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2021 us-gaap Proceeds From Short Term Debt Maturing In Three Months Or Less
ProceedsFromShortTermDebtMaturingInThreeMonthsOrLess
usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
usd
CY2021 us-gaap Stock Issued1
StockIssued1
usd
CY2021 lddc Share Issuance In Exchange For Equipment
ShareIssuanceInExchangeForEquipment
usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
usd
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2022 us-gaap Interest Expense
InterestExpense
usd
CY2021 us-gaap Interest Expense
InterestExpense
usd
CY2022Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
usd
CY2022 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.029
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0001892316
CY2021Q4 dei Entity Public Float
EntityPublicFloat
0 usd

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