2024 Q1 Form 10-Q Financial Statement

#000121390024010983 Filed on February 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q2
Revenue $1.790M $2.341M $3.059M
YoY Change 539.0% 3546.05%
Cost Of Revenue $38.60K $42.40K $292.1K
YoY Change -67.43% 64.33%
Gross Profit $1.751M $2.298M $2.767M
YoY Change 983.69% 5885.84%
Gross Profit Margin 97.84% 98.19% 90.45%
Selling, General & Admin $1.033M $1.903M $1.770M
YoY Change 62.84% 784.62%
% of Gross Profit 58.96% 82.79% 63.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.24K $23.18K $16.67K
YoY Change 114.27% 41.77%
% of Gross Profit 2.13% 1.01% 0.6%
Operating Expenses $32.84K $21.26K $1.773M
YoY Change 122.72% 50.32%
Operating Profit $718.9K $395.5K $993.9K
YoY Change -252.13% -323.83%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $225.0K -$136.6K $350.00
YoY Change 18449.05% -25919.28%
Pretax Income $709.3K $258.9K $994.2K
YoY Change -250.49% -246.97%
Income Tax $191.3K $76.07K $10.25K
% Of Pretax Income 26.97% 29.38% 1.03%
Net Earnings $511.5K $148.7K $829.3K
YoY Change -208.54% -184.41%
Net Earnings / Revenue 28.58% 6.35% 27.11%
Basic Earnings Per Share $0.02 $0.01
Diluted Earnings Per Share $0.02 $0.01 $0.03
COMMON SHARES
Basic Shares Outstanding 30.01M shares 30.01M shares 300.0M shares
Diluted Shares Outstanding 30.01M shares 30.01M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.883M $2.544M $1.137M
YoY Change 192.15% 2051.04%
Cash & Equivalents $1.883M $2.544M $1.137M
Short-Term Investments
Other Short-Term Assets $225.7K $58.24K $68.34K
YoY Change 96.82% 535.81%
Inventory $820.00
Prepaid Expenses $225.7K $58.24K $68.34K
Receivables
Other Receivables $107.3K $109.8K $107.0K
Total Short-Term Assets $2.216M $2.712M $1.313M
YoY Change 182.69% 1592.97% 209.38%
LONG-TERM ASSETS
Property, Plant & Equipment $325.4K $373.0K $152.7K
YoY Change 166.09% 209.41% 39.81%
Goodwill
YoY Change
Intangibles $0.00 $0.00 $3.828K
YoY Change -100.0% -100.0%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $325.4K $373.0K $170.0K
YoY Change 128.02% 139.56% -8.76%
TOTAL ASSETS
Total Short-Term Assets $2.216M $2.712M $1.313M
Total Long-Term Assets $325.4K $373.0K $170.0K
Total Assets $2.542M $3.085M $1.483M
YoY Change 174.27% 876.6% 142.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $632.6K $1.069M $1.044M
YoY Change 137.0% 10718.05% 2458.68%
Accrued Expenses $51.22K $67.43K $90.86K
YoY Change -49.55% 31.93% -27.86%
Deferred Revenue $588.3K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.122M $3.173M $2.047M
YoY Change -26.58% 76.25% 25.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $6.890K
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00 $6.890K
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.122M $3.173M $2.047M
Total Long-Term Liabilities $0.00 $0.00 $6.890K
Total Liabilities $2.122M $3.173M $2.053M
YoY Change -26.76% 75.54% 25.75%
SHAREHOLDERS EQUITY
Retained Earnings -$6.941M -$7.452M -$7.885M
YoY Change -20.35% -10.04% 0.5%
Common Stock $30.01K $30.01K $30.01K
YoY Change -90.0% -90.0% -90.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $398.0K -$103.5K -$542.0K
YoY Change
Total Liabilities & Shareholders Equity $2.542M $3.085M $1.483M
YoY Change 174.27% 876.6% 142.81%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q2
OPERATING ACTIVITIES
Net Income $511.5K $148.7K $829.3K
YoY Change -208.54% -184.41%
Depreciation, Depletion And Amortization $37.24K $23.18K $16.67K
YoY Change 114.27% 41.77%
Cash From Operating Activities -$615.0K $1.987M $457.4K
YoY Change -172.73% -514.86%
INVESTING ACTIVITIES
Capital Expenditures -$1.950K $230.0K $50.55K
YoY Change -109.25% -24564.89%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $20.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $1.950K -$230.0K -$50.53K
YoY Change -109.24% -22001.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 -4.880K
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -615.0K 1.987M 457.4K
Cash From Investing Activities 1.950K -230.0K -50.53K
Cash From Financing Activities 0.000 0.000 -4.880K
Net Change In Cash -613.1K 1.757M 402.0K
YoY Change -217.93% -602.52%
FREE CASH FLOW
Cash From Operating Activities -$615.0K $1.987M $457.4K
Capital Expenditures -$1.950K $230.0K $50.55K
Free Cash Flow -$613.1K $1.757M $406.9K
YoY Change -174.35% -467.56%

Facts In Submission

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us-gaap Adjustment For Amortization
AdjustmentForAmortization
796 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
6694 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
42989 usd
us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
-3693 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
136 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-2359 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-4871 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-23391 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-828 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1062 usd
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-31704 usd
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
13063 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-891 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-29400 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1157063 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
39573 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-25186 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-76442 usd
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
71000 usd
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
1925342 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-124402 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-8748 usd
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-54992 usd
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
27015 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-33837 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
133682 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-21495 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
121832 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-2007 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1603516 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-337707 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
250820 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
48506 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
5732 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-250820 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-54238 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
166227 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
166227 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54777 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-12680 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1407473 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-238398 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
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2544035 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
118274 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
141204 usd
CY2021Q4 us-gaap Shares Issued
SharesIssued
30000008 shares
lddc Negative Working Capital
NegativeWorkingCapital
460736 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-87726 usd
us-gaap Profit Loss
ProfitLoss
477572 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-491592 usd
CY2023Q4 us-gaap Non Investment Assets Less Non Investment Liabilities Percent Of Net Assets
NonInvestmentAssetsLessNonInvestmentLiabilitiesPercentOfNetAssets
1 pure
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><i>D. Use of estimates</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i>F. Concentration of credit risk</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>The Company maintains cash in state-owned banks in China. In China, the insurance coverage of each bank is RMB500,000 (approximately USD$71,000). As of December 31, 2023 and June 30, 2023, the Company had $1,925,342 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>For the six months ended December 31, 2023, 99.9% of commission revenue was attributable to the Company’s introduction of customers to a single service provider. For the six months ended December 31, 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>For the six months ended December 31, 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 Six Months Ended<br/> December 31, 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 Six Months Ended<br/> December 31, 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">25,144</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">24</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">62,917</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Supplier B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,176</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,435</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22</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">29,179</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,941</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></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Supplier D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,225</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,690</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>
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
500000 cny
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
606483 usd
lddc Cost Of Revenue Percentage
CostOfRevenuePercentage
0.10 pure
lddc Cost Of Revenue Percentage
CostOfRevenuePercentage
0.10 pure
us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><i>L. Revenue recognition</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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>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><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>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>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>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 $1,329 and $15,406 as of December 31, 2023 and June 30, 2023, respectively. Management’s provision for sales returns and allowances was 1.09% and 1.27%, respectively, of the total service revenue for the six months ended December 31, 2023 and December 31, 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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 1.75%, respectively, of the total product revenue for the six months ended December 31, 2023 and December 31, 2022.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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><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; "><span>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 Statements of Operations and Comprehensive Income (Loss).</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>Cost of Revenues</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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>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>
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
1329 usd
CY2023 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
15406 usd
lddc Sales Return Percentage
SalesReturnPercentage
0.0109 pure
CY2022 lddc Sales Return Percentage
SalesReturnPercentage
0.0127 pure
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
58243 usd
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
68341 usd
CY2023Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
468437 usd
CY2023Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
204645 usd
CY2023Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
23249 usd
CY2023Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
72026 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
491686 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
276671 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
118676 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
123952 usd
CY2023Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
373010 usd
CY2023Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
152719 usd
CY2023Q4 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
23187 usd
CY2023Q4 us-gaap Operating Expenses
OperatingExpenses
21255 usd
CY2023Q4 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
1932 usd
us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
38703 usd
us-gaap Operating Expenses
OperatingExpenses
35271 usd
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
3432 usd
CY2022Q4 us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
15883 usd
CY2022Q4 us-gaap Operating Expenses
OperatingExpenses
14140 usd
CY2022Q4 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
1743 usd
us-gaap Depreciation Expense On Reclassified Assets
DepreciationExpenseOnReclassifiedAssets
34173 usd
us-gaap Operating Expenses
OperatingExpenses
30619 usd
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
3554 usd
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
2281 usd
CY2023 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
104611 usd
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
28490 usd
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
19402 usd
CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-102290 usd
CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-34979 usd
CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
361191 usd
CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-141181 usd
CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
258901 usd
CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-176160 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-135666 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-92389 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
830211 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-399203 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
694545 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-491592 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.25 pure
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.25 pure
us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.01 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.04 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.25 pure
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.02 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.26 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
472212 usd
CY2023Q4 srt Financing Receivable Before Allowance For Credit Loss To Total Percent
FinancingReceivableBeforeAllowanceForCreditLossToTotalPercent
1 pure
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
118053 usd
CY2023Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
87494 usd
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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lddc Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance1
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CY2022Q3 us-gaap Operating Lease Payments Use
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OperatingLeasePayments
30157 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
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us-gaap Lease And Rental Expense
LeaseAndRentalExpense
0 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
42989 usd
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OperatingLeaseRightOfUseAsset
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CY2023Q2 us-gaap Operating Lease Liability Noncurrent
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CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
The Certificate of Change provided for a 1-for-10 reverse split of the Registrant’s outstanding common stock effective at the close of business on September 26, 2023
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
148689 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30000008 shares
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.005
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Net Income Loss
NetIncomeLoss
432906 usd
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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30005016 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30000008 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.014
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
33865 usd
us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2022Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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dei Current Fiscal Year End Date
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dei Security Exchange Name
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NONE
CY2023Q4 us-gaap Accounts Receivable Net Current
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CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
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CY2023Q4 us-gaap Inventory Net
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CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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CY2023Q4 us-gaap Preferred Stock Value
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CY2023Q2 us-gaap Preferred Stock Value
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q4 lddc Product Revenue
ProductRevenue
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lddc Product Revenue
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CY2022Q4 lddc Cost Of Product Revenue
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lddc Cost Of Product Revenue
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CY2022Q4 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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EarningsPerShareDiluted
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CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30005016 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30005016 shares
CY2023Q4 us-gaap Stock Issued During Period Value Other
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us-gaap Adjustment For Amortization
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us-gaap Gain Loss On Securitization Of Financial Assets
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Proceeds From Short Term Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Income Taxes Paid
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us-gaap Interest Expense
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us-gaap Interest Expense
InterestExpense
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us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
pure
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
pure
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30000008 shares
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30005016 shares
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.005
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.005
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30000008 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30005016 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.014
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.015
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Entity Central Index Key
EntityCentralIndexKey
0001892316

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