2023 Q3 Form 10-Q Financial Statement

#000121390023088571 Filed on November 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2022 Q3
Revenue $1.587M $415.6K
YoY Change 282.0% -44.8%
Cost Of Revenue $62.35K $155.5K
YoY Change -59.89% -28.84%
Gross Profit $1.525M $260.1K
YoY Change 486.34% -51.32%
Gross Profit Margin 96.07% 62.59%
Selling, General & Admin $1.091M $575.5K
YoY Change 89.53% -92.32%
% of Gross Profit 71.52% 221.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.52K $18.29K
YoY Change -15.17% 111.23%
% of Gross Profit 1.02% 7.03%
Operating Expenses $14.02K $16.48K
YoY Change -14.95% -99.78%
Operating Profit $434.3K -$315.4K
YoY Change -237.68% -95.47%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.362K $2.00
YoY Change 68000.0% -100.26%
Pretax Income $435.6K -$315.4K
YoY Change -238.11% -95.47%
Income Tax $140.9K
% Of Pretax Income 32.34%
Net Earnings $284.2K -$315.4K
YoY Change -190.1% -95.47%
Net Earnings / Revenue 17.9% -75.9%
Basic Earnings Per Share $0.01 $0.00
Diluted Earnings Per Share $0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 30.01M shares 300.0M shares
Diluted Shares Outstanding 30.01M shares 300.0M shares

Balance Sheet

Concept 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $729.8K $456.8K
YoY Change 59.78%
Cash & Equivalents $729.8K $456.8K
Short-Term Investments
Other Short-Term Assets $283.4K $13.71K
YoY Change 1967.4%
Inventory $129.00 $1.662K
Prepaid Expenses $283.4K $13.71K
Receivables $2.056K
Other Receivables $124.6K $17.45K
Total Short-Term Assets $1.140M $489.6K
YoY Change 132.87%
LONG-TERM ASSETS
Property, Plant & Equipment $157.3K $132.8K
YoY Change 18.43%
Goodwill
YoY Change
Intangibles $0.00 $5.312K
YoY Change -100.0%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $157.3K $208.9K
YoY Change -24.7%
TOTAL ASSETS
Total Short-Term Assets $1.140M $489.6K
Total Long-Term Assets $157.3K $208.9K
Total Assets $1.297M $698.5K
YoY Change 85.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $738.0K $13.93K
YoY Change 5198.01%
Accrued Expenses $67.68K $96.83K
YoY Change -30.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $171.5K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.574M $1.965M
YoY Change -19.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $7.030K
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $7.030K
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.574M $1.965M
Total Long-Term Liabilities $0.00 $7.030K
Total Liabilities $1.574M $1.972M
YoY Change -20.17%
SHAREHOLDERS EQUITY
Retained Earnings -$7.601M -$8.127M
YoY Change -6.47%
Common Stock $30.01K $300.0K
YoY Change -90.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$259.0K -$1.152M
YoY Change
Total Liabilities & Shareholders Equity $1.297M $698.5K
YoY Change 85.74%

Cashflow Statement

Concept 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $284.2K -$315.4K
YoY Change -190.1% -95.47%
Depreciation, Depletion And Amortization $15.52K $18.29K
YoY Change -15.17% 111.23%
Cash From Operating Activities -$383.2K $141.2K
YoY Change -371.42% -222.76%
INVESTING ACTIVITIES
Capital Expenditures $20.85K $49.45K
YoY Change -57.84% -53.8%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$5.840K
YoY Change -100.0%
Cash From Investing Activities -$20.85K -$55.29K
YoY Change -62.29% -48.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $37.98K
YoY Change 22.88%
NET CHANGE
Cash From Operating Activities -$383.2K $141.2K
Cash From Investing Activities -$20.85K -$55.29K
Cash From Financing Activities $37.98K
Net Change In Cash -$406.7K $100.1K
YoY Change -506.34% -152.27%
FREE CASH FLOW
Cash From Operating Activities -$383.2K $141.2K
Capital Expenditures $20.85K $49.45K
Free Cash Flow -$404.0K $91.73K
YoY Change -540.46% -141.31%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-406732 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
100097 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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
729830 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
456769 usd
CY2021Q4 us-gaap Shares Issued
SharesIssued
30000008 shares
CY2023Q3 lddc Negative Working Capital
NegativeWorkingCapital
434390 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-277059 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
294744 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-315432 usd
CY2023Q3 us-gaap Non Investment Assets Less Non Investment Liabilities Percent Of Net Assets
NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets
1 pure
CY2023Q3 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; text-align: justify"> </p>
CY2023Q3 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>F. Concentration of credit risk</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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$68,000). As of September 30, 2023 and June 30, 2023, the Company had $278,897 and $606,483 cash in excess of the insured amount, respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">For the three months ended September 30, 2023, 99.9% of commission revenue was attributable to the Company’s introduction of customers to a single service provider. For the three months ended September 30, 2022, no customer accounted for more than 10% of revenue.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="background-color: white">For the three months ended September 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="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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">For the Three Months Ended<br/> September 30, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </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">For the Three Months Ended<br/> September 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </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 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">Percentage of<br/> 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><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">Percentage of<br/> 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" style="text-align: left"> </td><td> </td><td> </td> <td colspan="2" style="text-align: left"> </td><td> </td><td> </td> <td colspan="2" style="text-align: left"> </td><td> </td><td> </td> <td colspan="2" style="text-align: left"> </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">20,406</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">33</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">46,250</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">30</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">19,032</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,391</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23</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">15,141</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,876</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: White"> <td style="text-align: left">Supplier D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,423</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">29,721</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19</td><td style="text-align: left">%</td></tr> </table>
CY2023Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
500000 cny
CY2023Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
68000 usd
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
278897 usd
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
606483 usd
CY2023Q3 lddc Cost Of Revenue Percentage
CostOfRevenuePercentage
0.10 pure
CY2022Q3 lddc Cost Of Revenue Percentage
CostOfRevenuePercentage
0.10 pure
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
283440 usd
CY2023Q3 us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; 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 0; 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 0; 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 0; 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 0; 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 $5,308 and $15,406 as of September 30, 2023 and June 30, 2023, respectively. Management’s provision for sales returns and allowances was 1% and 1.85%, respectively, of the total service revenue for the three months ended September 30, 2023 and June 30, 2023.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 $0 and $229 as of September 30, 2023 and June 30, 2023, respectively. Management’s provision for sales returns and allowances was 0% and 1.26%, respectively, of the total product revenue for the three months ended September 30, 2023 and 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; text-align: justify; background-color: white"><span style="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).</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">Cost of Revenues</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; text-align: justify"> </p>
CY2023Q3 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
5308 usd
CY2023 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
15406 usd
CY2023Q3 lddc Sales Return Percentage
SalesReturnPercentage
0.01 pure
CY2023 lddc Sales Return Percentage
SalesReturnPercentage
0.0185 pure
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
68341 usd
CY2023Q3 lddc Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate1
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate1
0.165 pure
CY2023Q3 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
140900 usd
CY2023Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
219691 usd
CY2023Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
204645 usd
CY2023Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
29896 usd
CY2023Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
72026 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
249587 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
276671 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
92256 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
123952 usd
CY2023Q3 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
157331 usd
CY2023Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
152719 usd
CY2023Q3 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
15516 usd
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
14016 usd
CY2023Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
1500 usd
CY2022Q3 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
18290 usd
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
16479 usd
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1811 usd
CY2023Q3 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
26240 usd
CY2023 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
104611 usd
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.21 pure
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-33376 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
469020 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2023Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2022Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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-315432 usd
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.25 pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.25 pure
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.01 pure
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.08 pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.25 pure
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.02 pure
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.30 pure
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
496332 usd
CY2023Q3 srt Financing Receivable Before Allowance For Credit Loss To Total Percent
FinancingReceivableBeforeAllowanceForCreditLossToTotalPercent
1 pure
CY2023Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
124083 usd
CY2023Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
87494 usd
CY2023Q3 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Goodwill And Intangible Assets
DeferredTaxesBusinessCombinationValuationAllowanceAvailableToReduceGoodwillAndIntangibleAssets
82148 usd
CY2022Q3 us-gaap Deferred Taxes Business Combination Valuation Allowance Available To Reduce Goodwill And Intangible Assets
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65038 usd
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
33376 usd
CY2023Q3 lddc Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance1
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance1
1 pure
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration
178336 usd
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
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171327 usd
CY2023Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
7009 usd
CY2022Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
12056 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
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
20561 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
150000 cny
CY2022Q3 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
6854 usd
CY2023Q2 lddc Leased Office Space
LeasedOfficeSpace
957 sqm
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
19758 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
144140 cny
CY2023Q3 lddc Leased Office Space
LeasedOfficeSpace
482 sqm
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
30157 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
220000 cny
CY2022Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
23373 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13470 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6579 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6891 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
13470 usd
CY2023Q3 lddc Determining Present
DeterminingPresent
0.0475 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
32496 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5026 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
37522 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
284217 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-280648 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30005008 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30000008 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2023Q3 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Reclassification Adjustment Tax Attributable To Noncontrolling Interest
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10598 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Reclassification Adjustment Tax Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterReclassificationAdjustmentTaxAttributableToNoncontrollingInterest
28018 usd
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
usd
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
30000008 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
30000008 shares
CY2023Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
usd
CY2022Q3 us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
usd
CY2022Q3 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
usd
CY2023Q3 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
usd
CY2023Q3 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
CY2023Q3 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
usd
CY2023Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2022Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2023Q3 us-gaap Interest Expense
InterestExpense
usd
CY2022Q3 us-gaap Interest Expense
InterestExpense
usd
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
pure
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
usd
CY2023Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
usd
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30005008 shares
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2023Q3 dei Amendment Flag
AmendmentFlag
false
CY2023Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2023Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2023Q3 dei Entity Central Index Key
EntityCentralIndexKey
0001892316

Files In Submission

Name View Source Status
lddc-20230930_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
lddc-20230930_cal.xml Edgar Link unprocessable
lddc-20230930_pre.xml Edgar Link unprocessable
0001213900-23-088571-index-headers.html Edgar Link pending
0001213900-23-088571-index.html Edgar Link pending
0001213900-23-088571.txt Edgar Link pending
0001213900-23-088571-xbrl.zip Edgar Link pending
f10q0923ex31-1_longduo.htm Edgar Link pending
f10q0923ex31-2_longduo.htm Edgar Link pending
f10q0923ex32-1_longduo.htm Edgar Link pending
f10q0923ex32-2_longduo.htm Edgar Link pending
f10q0923_longduo.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
lddc-20230930.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
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lddc-20230930_lab.xml Edgar Link unprocessable
f10q0923_longduo_htm.xml Edgar Link completed
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report.css Edgar Link pending
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