2023 Q4 Form 10-K Financial Statement

#000121390023086498 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q2 2023
Revenue $2.341M $3.059M $3.819M
YoY Change 3546.05% 17.93%
Cost Of Revenue $42.40K $292.1K $591.9K
YoY Change 64.33% -41.11%
Gross Profit $2.298M $2.767M $3.227M
YoY Change 5885.84% 44.5%
Gross Profit Margin 98.19% 90.45% 84.5%
Selling, General & Admin $1.903M $1.770M $3.197M
YoY Change 784.62% -67.33%
% of Gross Profit 82.79% 63.99% 99.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.18K $16.67K $67.74K
YoY Change 41.77% 3.1%
% of Gross Profit 1.01% 0.6% 2.1%
Operating Expenses $21.26K $1.773M $59.75K
YoY Change 50.32% -0.32%
Operating Profit $395.5K $993.9K $29.24K
YoY Change -323.83% -100.39%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$136.6K $350.00 $2.093K
YoY Change -25919.28% -131.22%
Pretax Income $258.9K $994.2K $31.33K
YoY Change -246.97% -100.41%
Income Tax $76.07K $10.25K $10.25K
% Of Pretax Income 29.38% 1.03% 32.7%
Net Earnings $148.7K $829.3K $21.09K
YoY Change -184.41% -100.28%
Net Earnings / Revenue 6.35% 27.11% 0.55%
Basic Earnings Per Share $0.01 $0.00
Diluted Earnings Per Share $0.01 $0.03 $0.00
COMMON SHARES
Basic Shares Outstanding 30.01M shares 300.0M shares 30.02M shares
Diluted Shares Outstanding 30.01M shares 30.02M shares

Balance Sheet

Concept 2023 Q4 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.544M $1.137M $1.137M
YoY Change 2051.04% 218.66%
Cash & Equivalents $2.544M $1.137M $1.137M
Short-Term Investments
Other Short-Term Assets $58.24K $68.34K $68.34K
YoY Change 535.81% 101.95%
Inventory $820.00 $820.00
Prepaid Expenses $58.24K $68.34K
Receivables
Other Receivables $109.8K $107.0K
Total Short-Term Assets $2.712M $1.313M $1.313M
YoY Change 1592.97% 209.38% 209.37%
LONG-TERM ASSETS
Property, Plant & Equipment $373.0K $152.7K $166.2K
YoY Change 209.41% 39.81% -10.81%
Goodwill
YoY Change
Intangibles $0.00 $3.828K
YoY Change -100.0%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $373.0K $170.0K $170.0K
YoY Change 139.56% -8.76% -8.76%
TOTAL ASSETS
Total Short-Term Assets $2.712M $1.313M $1.313M
Total Long-Term Assets $373.0K $170.0K $170.0K
Total Assets $3.085M $1.483M $1.483M
YoY Change 876.6% 142.81% 142.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.069M $1.044M $1.044M
YoY Change 10718.05% 2458.68% 2458.81%
Accrued Expenses $67.43K $90.86K $97.44K
YoY Change 31.93% -27.86% -39.43%
Deferred Revenue $588.3K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.173M $2.047M $2.047M
YoY Change 76.25% 25.55% 25.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $6.890K $6.890K
YoY Change -100.0% 130.43%
Total Long-Term Liabilities $0.00 $6.890K $6.890K
YoY Change -100.0% 130.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.173M $2.047M $2.047M
Total Long-Term Liabilities $0.00 $6.890K $6.890K
Total Liabilities $3.173M $2.053M $2.025M
YoY Change 75.54% 25.75% 31.52%
SHAREHOLDERS EQUITY
Retained Earnings -$7.452M -$7.885M
YoY Change -10.04% 0.5%
Common Stock $30.01K $30.01K
YoY Change -90.0% -90.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$103.5K -$542.0K -$542.0K
YoY Change
Total Liabilities & Shareholders Equity $3.085M $1.483M $1.483M
YoY Change 876.6% 142.81% 142.81%

Cashflow Statement

Concept 2023 Q4 2023 Q2 2023
OPERATING ACTIVITIES
Net Income $148.7K $829.3K $21.09K
YoY Change -184.41% -100.28%
Depreciation, Depletion And Amortization $23.18K $16.67K $67.74K
YoY Change 41.77% 3.1%
Cash From Operating Activities $1.987M $457.4K $965.3K
YoY Change -514.86% 3278.61%
INVESTING ACTIVITIES
Capital Expenditures $230.0K $50.55K $120.1K
YoY Change -24564.89% 7.37%
Acquisitions
YoY Change
Other Investing Activities $0.00 $20.00 -$5.750K
YoY Change -100.0%
Cash From Investing Activities -$230.0K -$50.53K -$125.9K
YoY Change -22001.9% 12.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -4.880K -$143.3K
YoY Change -100.0% -179.76%
NET CHANGE
Cash From Operating Activities 1.987M 457.4K $965.3K
Cash From Investing Activities -230.0K -50.53K -$125.9K
Cash From Financing Activities 0.000 -4.880K -$143.3K
Net Change In Cash 1.757M 402.0K $779.9K
YoY Change -602.52% 833.37%
FREE CASH FLOW
Cash From Operating Activities $1.987M $457.4K $965.3K
Capital Expenditures $230.0K $50.55K $120.1K
Free Cash Flow $1.757M $406.9K $845.2K
YoY Change -467.56% -1114.54%

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CY2022 us-gaap Increase Decrease In Operating Lease Liability
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CY2023 us-gaap Increase Decrease In Other Current Liabilities
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CY2022 us-gaap Increase Decrease In Other Current Liabilities
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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28572 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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120127 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
111882 usd
CY2023 us-gaap Payments To Acquire Intangible Assets
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Proceeds From Issuance Of Common Stock
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30982 usd
CY2023 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2022 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
179697 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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83766 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-12831 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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779890 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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83556 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
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1136562 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
356672 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
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70914 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
10246 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
1576 usd
CY2021Q4 us-gaap Shares Issued
SharesIssued
30000008 shares
CY2023 lddc Negative Working Capital
NegativeWorkingCapital
733781 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2023Q2 us-gaap Non Investment Assets Less Non Investment Liabilities Percent Of Net Assets
NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets
1 pure
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white"><i>D. Use of estimates</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p>
CY2023 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 style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; 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; text-align: justify"><span style="background-color: white">The Company maintains cash in state-owned banks in China. In China, the insurance coverage of each bank is RMB500,000 (approximately USD$69,000). As of June 30, 2023 and 2022, the Company had $606,483 and $93,510 cash in excess of the insured amount, respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">For the year ended June 30, 2023, one customer accounted for 99.9% of commission revenue. For the year ended June 30, 2022, no customer accounted for more than 10% of revenue.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><span style="background-color: white">For the years ended June 30, 2023 and 2022, the Company had four major suppliers that accounted for over 10% of its total cost of revenue.</span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Year ended June 30, <br/> 2023</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Year ended June 30, <br/> 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Cost of revenue</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Percentage of<br/> Cost of<br/> revenue</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Cost of<br/> revenue</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Percentage of<br/> <span style="text-decoration:underline;text-decoration: none">Cost of<br/> revenue</span></b></span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Supplier A</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">263,812</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">45</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">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; background-color: White"> <td style="text-align: left">Supplier B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90,380</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15</td><td style="text-align: left">%</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">Supplier C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,646</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left">%</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; background-color: White"> <td style="text-align: left">Supplier D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">53,419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left">%</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>
CY2023 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
500000 cny
CY2023 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
69000 usd
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
606483 usd
CY2022Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
93510 usd
CY2022 lddc Cost Of Revenue Percentage
CostOfRevenuePercentage
0.10 pure
CY2023 lddc Cost Of Revenue Percentage
CostOfRevenuePercentage
0.10 pure
CY2023Q2 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
68341 usd
CY2023 us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white"><i>L. Revenue recognition</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white"><span style="text-decoration:underline">Service and Product Revenue</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">The Company sells healthcare packages, including healthcare consulting services and healthcare products. Customers may purchase a 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 packages that include services and products, the Company allocates revenues based on their relative selling prices.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">The Company sells a healthcare service package to a customer, which represents the rights to services purchased by the Company. The delivery of a healthcare service package to a customer represents a separate performance obligation. The Company’s policy is to recognize service revenue at that time when the healthcare service package has been sold, ownership and risk of loss have been transferred to the customer, and the service has been provided. Accordingly, 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 and there are no remaining performance obligations.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">Management regularly reviews the sales returns and allowances based on historical experience. Any subsequent sales returns and cancellations are recognized upon notification from the customers. The liability for sales returns and allowances relating to the sale of healthcare service packages amounted to $15,406 and $4,817 as of June 30, 2023 and June 30, 2022, respectively. Management’s provision for sales returns and allowances was 1.85% and 1.09%, respectively, of the total service revenue for the years ended June 30, 2023 and 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">Product revenue results from the sale of healthcare and nutritional products, including Collagen peptide, Calcium tablets and other products. The Company recognizes revenue when the product has been delivered and ownership and risk of loss have been transferred to the customer. The Company accepts returns provided the products are well packaged and can be resold. Management regularly reviews the sales returns and allowances based on historical experience. The liability for sales returns and allowances relating to the sale of healthcare products amounted to $229 and $997 as of June 30, 2023 and June 30, 2022, respectively. Management’s provision for sales returns and allowances was 1.26% and 1.35%, respectively, of the total product revenue for the year ended June 30, 2023 and 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">The Company typically collects fees before delivery of healthcare packages. Amounts received from a customer before the delivery of the healthcare package are recorded as deferred revenue on the Consolidated Balance Sheets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white"><span style="text-decoration:underline">Commission Revenue</span></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">Commencing in the three months ended June 30, 2023, the Company started offering in a sales agent capacity healthcare service and product packages of a third-party provider. The third party is responsible for fulfillment of the services to the customer and the Company has no performance commitment or liability to the customer. The Company receives deposits from the customers, remits to the third-party provider the provider’s contracted amounts, and retains the remaining amounts as commission revenue. The commission revenue is recognized upon acceptance of the customer contract by the third-party provider and is presented on a net basis in the Statement of Operations and Comprehensive Income (Loss).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">Cost of Revenues</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">Cost of service revenue consists primarily of the cost of healthcare service packages purchased from third party healthcare service providers to fulfill contracts with customers.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="background-color: white">Cost of product revenue consists primarily of the cost of healthcare products purchased from suppliers. Cost of product revenue is recognized when the product has been delivered to the customer.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p>
CY2023 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
15406 usd
CY2022 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
4817 usd
CY2023 lddc Sales Return Percentage
SalesReturnPercentage
0.0185 pure
CY2022 lddc Sales Return Percentage
SalesReturnPercentage
0.0109 pure
CY2022Q2 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
33837 usd
CY2023Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
204645 usd
CY2022Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
104458 usd
CY2023Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
72026 usd
CY2022Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
70561 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
276671 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
175019 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
123952 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
65786 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
152719 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
109233 usd
CY2023 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
67738 usd
CY2023 us-gaap Operating Expenses
OperatingExpenses
59745 usd
CY2023 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
7993 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
CY2022 us-gaap Line Of Credit Facility Maximum Monthend Outstanding Amount
LineOfCreditFacilityMaximumMonthendOutstandingAmount
143333 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
CY2023 us-gaap Related Party Transaction Purchases From Related Party
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104611 usd
CY2022 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
74558 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.21 pure
CY2023 lddc Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
0.165 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.25 pure
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-586688 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
618019 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-7415383 usd
CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
31331 usd
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2023 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 At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0 pure
CY2023Q2 us-gaap Operating Loss Carryforwards
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349976 usd
CY2023Q2 srt Financing Receivable Before Allowance For Credit Loss To Total Percent
FinancingReceivableBeforeAllowanceForCreditLossToTotalPercent
1 pure
CY2023Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
87494 usd
CY2022Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
238921 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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151427 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
165008 usd
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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586688 usd
CY2023 lddc Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance1
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance1
1 pure
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration
171327 usd
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration
48123 usd
CY2023Q2 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Goodwill And Intangible Assets
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceGoodwillAndIntangibleAssets
123204 usd
CY2022Q2 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Goodwill And Intangible Assets
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30787 usd
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
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
74946 usd
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
480000 cny
CY2021Q3 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
3123 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
21912 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
150000 cny
CY2022Q3 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
7304 usd
CY2023Q2 lddc Leased Office Space
LeasedOfficeSpace
957 sqm
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
20732 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
144140 cny
CY2023 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
73147 usd
CY2022 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
89168 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13470 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
77106 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6579 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
34928 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6891 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2986 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13470 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
37914 usd
CY2023 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
21575 usd
CY2022 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
34081 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M24D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2023 lddc Determining Present
DeterminingPresent
0.0475 pure
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6891 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6891 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
13782 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
312 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
13470 usd
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
CY2023 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-39089 usd
CY2022 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-7517365 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30018056 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25616907 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.001
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.293
CY2023Q2 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
usd
CY2022Q2 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.001
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.293
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25616907 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30018056 shares
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
usd
CY2023 us-gaap Interest Expense
InterestExpense
usd
CY2022 us-gaap Interest Expense
InterestExpense
usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25616907 shares
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.001
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001892316
CY2022Q4 dei Entity Public Float
EntityPublicFloat
0 usd

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lddc-20230630_cal.xml Edgar Link unprocessable
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0001213900-23-086498-index.html Edgar Link pending
0001213900-23-086498.txt Edgar Link pending
0001213900-23-086498-xbrl.zip Edgar Link pending
f10k2023ex31-1_longduoduo.htm Edgar Link pending
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f10k2023_longduoduo.htm Edgar Link pending
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f10k2023_longduoduo_htm.xml Edgar Link completed
lddc-20230630.xsd Edgar Link pending
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lddc-20230630_lab.xml Edgar Link unprocessable
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