2024 Q3 Form 10-K Financial Statement

#000121390024083350 Filed on September 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $4.082M $4.790M $18.32M
YoY Change -1.61% 42.28%
Cost Of Revenue $3.559M $3.761M $14.60M
YoY Change 1.66% 41.62%
Gross Profit $522.5K $1.028M $3.716M
YoY Change -19.3% 44.91%
Gross Profit Margin 12.8% 21.47% 20.29%
Selling, General & Admin $1.763M $1.343M $4.141M
YoY Change 71.73%
% of Gross Profit 337.46% 130.63% 111.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.00K $44.32K $71.98K
YoY Change 0.0% -44.95%
% of Gross Profit 3.44% 4.31% 1.94%
Operating Expenses $1.850M $1.343M $4.242M
YoY Change 88.58% 83.05%
Operating Profit -$1.328M -$315.0K -$526.0K
YoY Change 298.04% -313.06%
Interest Expense -$28.11K -$28.61K -$181.2K
YoY Change 46.57%
% of Operating Profit
Other Income/Expense, Net $81.68K $147.6K $230.4K
YoY Change 238.02% -69.76%
Pretax Income -$1.246M -$196.1K -$295.6K
YoY Change 302.73% -129.3%
Income Tax $89.58K -$198.1K -$67.34K
% Of Pretax Income
Net Earnings -$1.335M $2.020K -$225.3K
YoY Change 338.9% -122.9%
Net Earnings / Revenue -32.72% 0.04% -1.23%
Basic Earnings Per Share -$0.18 -$0.04
Diluted Earnings Per Share -$0.18 $0.00 -$0.04
COMMON SHARES
Basic Shares Outstanding 7.500M shares 6.000M shares
Diluted Shares Outstanding 7.500M shares 6.000M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.6K $123.6K
YoY Change -29.0%
Cash & Equivalents $2.739M $123.6K
Short-Term Investments
Other Short-Term Assets $645.3K $441.3K $0.00
YoY Change 1190.64% -40.86% -100.0%
Inventory
Prepaid Expenses
Receivables $2.975M $2.975M
Other Receivables $441.3K $441.3K
Total Short-Term Assets $5.831M $3.540M $3.540M
YoY Change 129.41% 45.32% 45.32%
LONG-TERM ASSETS
Property, Plant & Equipment $314.5K $344.9K $3.854M
YoY Change -87.74% -29.55% 37.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $15.74K $15.74K $15.74K
YoY Change 0.01%
Other Assets $1.785M $1.785M
YoY Change 685.04%
Total Long-Term Assets $4.979M $5.654M $5.654M
YoY Change 63.89% 86.22% 86.22%
TOTAL ASSETS
Total Short-Term Assets $5.831M $3.540M $3.540M
Total Long-Term Assets $4.979M $5.654M $5.654M
Total Assets $10.81M $9.194M $9.194M
YoY Change 93.74% 68.02% 68.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.390M $1.390M
YoY Change 67.9%
Accrued Expenses $324.2K $435.0K $2.523M
YoY Change -71.63% 288.26% 133.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $784.6K $784.6K
YoY Change 24.62%
Total Short-Term Liabilities $4.427M $5.894M $5.894M
YoY Change 31.43% 112.44% 112.43%
LONG-TERM LIABILITIES
Long-Term Debt $153.8K $153.8K
YoY Change -39.3%
Other Long-Term Liabilities $2.506M $2.506M
YoY Change 60.19%
Total Long-Term Liabilities $2.765M $2.660M $2.660M
YoY Change 69.83% 44.36% 46.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.427M $5.894M $5.894M
Total Long-Term Liabilities $2.765M $2.660M $2.660M
Total Liabilities $7.192M $8.554M $8.554M
YoY Change 43.29% 85.26% 85.55%
SHAREHOLDERS EQUITY
Retained Earnings -$1.341M -$5.819K
YoY Change -100.68%
Common Stock $4.944M $600.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.618M $639.8K $639.8K
YoY Change
Total Liabilities & Shareholders Equity $10.81M $9.194M $9.194M
YoY Change 93.74% 68.02% 68.02%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$1.335M $2.020K -$225.3K
YoY Change 338.9% -122.9%
Depreciation, Depletion And Amortization $18.00K $44.32K $71.98K
YoY Change 0.0% -44.95%
Cash From Operating Activities -$1.403M -$215.3K -$53.64K
YoY Change -3575.94% -236.48%
INVESTING ACTIVITIES
Capital Expenditures $5.772K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$32.51K $0.00 -$78.80K
YoY Change
Cash From Investing Activities -$38.28K $0.00 -$78.80K
YoY Change -51.42% 330.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $237.3K
YoY Change -476.59%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $4.044M 146.7K $78.76K
YoY Change 5958.12% -131.12%
NET CHANGE
Cash From Operating Activities -$1.403M -215.3K -$53.64K
Cash From Investing Activities -$38.28K 0.000 -$78.80K
Cash From Financing Activities $4.044M 146.7K $78.76K
Net Change In Cash $2.616M -68.56K -$50.47K
YoY Change 8194.94% -74.7%
FREE CASH FLOW
Cash From Operating Activities -$1.403M -$215.3K -$53.64K
Capital Expenditures $5.772K $0.00
Free Cash Flow -$1.409M -$215.3K -$53.64K
YoY Change -3590.24% -355.25%

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IncreaseDecreaseInAccountsPayablesRelatedParties
-137691 usd
CY2023 lsh Increase Decrease In Accounts Payables Related Parties
IncreaseDecreaseInAccountsPayablesRelatedParties
-101896 usd
CY2024 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
468284 usd
CY2023 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
57701 usd
CY2024 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
46996 usd
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
32829 usd
CY2024 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-846992 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-833365 usd
CY2024 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-53640 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
39303 usd
CY2024 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
29906 usd
CY2024 us-gaap Cash Divested From Deconsolidation
CashDivestedFromDeconsolidation
48893 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18288 usd
CY2024 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-78799 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18288 usd
CY2024 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
400000 usd
CY2024 us-gaap Repayments Of Debt
RepaymentsOfDebt
214986 usd
CY2023 us-gaap Repayments Of Debt
RepaymentsOfDebt
100864 usd
CY2024 lsh Repayment Of Equipment And Vehicle Loans
RepaymentOfEquipmentAndVehicleLoans
119964 usd
CY2023 lsh Repayment Of Equipment And Vehicle Loans
RepaymentOfEquipmentAndVehicleLoans
104598 usd
CY2024 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
29628 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
20640 usd
CY2024 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
170000 usd
CY2023 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
90000 usd
CY2024 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
23969 usd
CY2024 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
237302 usd
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
110550 usd
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
47536 usd
CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
78755 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-253088 usd
CY2024 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3216 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32560 usd
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-50468 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-199513 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174018 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
373531 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
123550 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174018 usd
CY2024 us-gaap Interest Paid Net
InterestPaidNet
31161 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
26474 usd
CY2024 lsh Deferred Offering Costs Within Due To Shareholders
DeferredOfferingCostsWithinDueToShareholders
860979 usd
CY2023 lsh Deferred Offering Costs Within Due To Shareholders
DeferredOfferingCostsWithinDueToShareholders
90000 usd
CY2024 lsh Deferred Offering Costs Within Accrued Expense And Other Payables
DeferredOfferingCostsWithinAccruedExpenseAndOtherPayables
541819 usd
CY2023 us-gaap Dividends
Dividends
200000 usd
CY2023 lsh Dividends Declared And Offset Against Due From Shareholders
DividendsDeclaredAndOffsetAgainstDueFromShareholders
101150 usd
CY2023 us-gaap Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
98245 usd
CY2024 lsh Right Of Use Assets Obtained In Exchange For Operating Lease Obligations
RightOfUseAssetsObtainedInExchangeForOperatingLeaseObligations
2094498 usd
CY2023 lsh Right Of Use Assets Obtained In Exchange For Operating Lease Obligations
RightOfUseAssetsObtainedInExchangeForOperatingLeaseObligations
124600 usd
CY2024 lsh Right Of Use Assets Obtained In Exchange For Finance Lease Obligation
RightOfUseAssetsObtainedInExchangeForFinanceLeaseObligation
19982 usd
CY2023 lsh Right Of Use Assets Obtained In Exchange For Finance Lease Obligation
RightOfUseAssetsObtainedInExchangeForFinanceLeaseObligation
32107 usd
CY2024 lsh Working Capital Net
WorkingCapitalNet
29812 usd
CY2024 lsh Investment In Other Entity Recognized
InvestmentInOtherEntityRecognized
-15741 usd
CY2024 lsh Elimination Of N Cl At Deconsolidation Of A Subsidiary
EliminationOfNClAtDeconsolidationOfASubsidiary
10187 usd
CY2024 lsh Loss From Deconsolidation Of A Subsidiaryss
LossFromDeconsolidationOfASubsidiaryss
-73151 usd
CY2024Q2 us-gaap Cash
Cash
48893 usd
CY2023Q3 us-gaap Business Combination Contingent Consideration Asset
BusinessCombinationContingentConsiderationAsset
1000 usd
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
600 usd
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
6000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Capital Units
CapitalUnits
500000 cny
CY2022Q3 us-gaap Capital Units
CapitalUnits
70000.00 usd
CY2023Q2 us-gaap Capital Units
CapitalUnits
3000000 cny
CY2023Q2 us-gaap Capital Units
CapitalUnits
410000 usd
CY2023Q3 us-gaap Capital Units
CapitalUnits
5000000 cny
CY2023Q3 us-gaap Capital Units
CapitalUnits
700000 usd
CY2024Q1 us-gaap Capital Units
CapitalUnits
750000 cny
CY2024Q1 us-gaap Capital Units
CapitalUnits
105000 usd
CY2024 us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
-73151 usd
CY2024Q2 us-gaap Equity Method Investments
EquityMethodInvestments
15741 usd
CY2024Q2 us-gaap Cash
Cash
48893 usd
CY2024Q2 lsh Working Capital Excluding Cash Net
WorkingCapitalExcludingCashNet
29812 usd
CY2024Q2 us-gaap Assets Net
AssetsNet
78705 usd
CY2024Q2 us-gaap Equity Method Investments
EquityMethodInvestments
15741 usd
CY2024Q2 us-gaap Other Minority Interests
OtherMinorityInterests
-10187 usd
CY2024 us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
-73151 usd
CY2023 us-gaap Interest And Debt Expense
InterestAndDebtExpense
24172 usd
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="text-decoration:underline">Use of estimates and assumptions</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant accounting estimates required to be made by management include allowance for credit losses, the percentage of performance obligation completed at the reporting period. The Company evaluates its estimates and assumptions on an ongoing basis and its estimates on historical experience, current and expected future conditions and various other assumptions that management believes are reasonable under the circumstances based on the information available to management at the time these estimates and assumptions are made. Actual results and outcomes may differ significantly from these estimates and assumptions.</p>
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Noncurrent
AllowanceForDoubtfulAccountsReceivableNoncurrent
54066 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Noncurrent
AllowanceForDoubtfulAccountsReceivableNoncurrent
25909 usd
CY2024 lsh Schedule Of Property Plant And Equipment Text Estimated Useful Life Block
ScheduleOfPropertyPlantAndEquipmentTextEstimatedUsefulLifeBlock
The straight-line depreciation method is used to compute depreciation over the estimated useful lives of the assets, as follows:<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="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Useful life</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 69%; text-align: left">Furniture and fixtures</td><td style="width: 2%"> </td> <td style="width: 29%; text-align: center">7 years</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Machinery equipment</td><td> </td> <td style="text-align: center">5 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vehicles</td><td> </td> <td style="text-align: center">5 years</td></tr> <tr style="vertical-align: bottom; "> <td style="vertical-align: top; text-align: left">Leasehold improvement</td><td> </td> <td style="text-align: center">Lesser of the lease term or estimated useful lives of the assets</td></tr> </table>
CY2024 us-gaap Revenues
Revenues
18315155 usd
CY2023 us-gaap Revenues
Revenues
12872891 usd
CY2024 us-gaap Revenues
Revenues
18315155 usd
CY2023 us-gaap Revenues
Revenues
12872891 usd
CY2023Q2 us-gaap Derivative Net Assets Percentage
DerivativeNetAssetsPercentage
1.895 pure
CY2023Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
44740 usd
CY2024Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
129506 usd
CY2024 lsh Voluntary Contribution Percentage
VoluntaryContributionPercentage
1 pure
CY2024 lsh Eligible Compensation Percentage
EligibleCompensationPercentage
0.05 pure
CY2024 us-gaap Pension Contributions
PensionContributions
30616 usd
CY2023 us-gaap Pension Contributions
PensionContributions
32896 usd
CY2024 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
327235 usd
CY2023 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
547002 usd
CY2024 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.015 pure
CY2024 lsh Tax Benefits Percentage
TaxBenefitsPercentage
0.50 pure
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="text-decoration:underline">Concentrations and risks</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0in"><i>a. Concentration of credit risk</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">The Company estimates credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. Assets that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents, accounts receivable, contract assets, other receivable and amounts due from related parties. The Company has designed their credit policies with an objective to minimize their exposure to credit risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">The maximum exposure of such assets to credit risk is their carrying amounts at the balance sheet dates. The Company maintains majority of the bank accounts at financial institutions in the United States, where there is $250,000 standard deposit insurance coverage limit per depositor, per FDIC-insured bank and per ownership category. As of June 30, 2024 and 2023, the cash deposited of $123,550 and $174,018 is within the insurance coverage limit, respectively. To limit the exposure to credit risk relating to deposits, the Company primarily places cash deposits with large financial institutions in the United States.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">The Company has adopted a credit policy of dealing with creditworthy counterparties to mitigate the credit risk from defaults. The management team conducts credit evaluations of its customers, and generally does not require collateral or other security from them. The Company establishes an accounting policy to provide for allowance for credit loss based on the individual customer’s financial condition, credit history, and the future economic conditions. Due from related parties’ balances are monitored on an ongoing basis with the result that the Company’s exposure to impairment is not significant. As of June 30, 2024 and 2023, <span style="-sec-ix-hidden: hidden-fact-75"><span style="-sec-ix-hidden: hidden-fact-76">none</span></span> of the Company’s due from related parties are impaired.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0in">b. Foreign exchange risk</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">ABL Wuhan which ceased to be our subsidiary on August 4, 2023 has functional currency in RMB. The value of the Chinese Yuan against the U.S. dollar is affected by the changes in China and United States economic conditions. We do not believe that we currently have any significant direct foreign exchange risk and have not used any derivative financial instruments to hedge exposure to such risk. Also, by considering the volume of ABL Wuhan’s business, the impact of foreign exchange risk is limited.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0in">c. Interest rate risk</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">Interest rate risk is the risk that future cash flows will fluctuate as a result of changes in market interest rates. Our exposure to interest rate risk primarily relates to the interest rates from our lessors and our private lenders. The shareholder loans bear no interest. We have not been exposed to material risks due to the fact that our leasing obligations’ interest rates and private loan’s interest are fixed at commence date of the leases and loans and we have not used any derivative financial instruments to manage our interest risk exposure. However, we cannot provide assurance that we will not be exposed to material risks due to changes in market interest rate in the future.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0in">d. Liquidity risk</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">Liquidity risk arises through the excess of financial obligations over available financial assets due at any point in time. Our objective in managing liquidity risk is to maintain sufficient readily available reserves in order to meet our liquidity requirements at any point in time. The Company monitors and analyze its cash flow position, its ability to generate sufficient revenue sources in the future and its operating and capital expenditure commitments. The Company is historically funded the working capital needs primarily from operations, loans, as well as shareholder advances to the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"> </p>
CY2024Q2 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
250000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
123550 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
174018 usd
CY2024Q2 us-gaap Loans Payable
LoansPayable
883337 usd
CY2023Q2 us-gaap Loans Payable
LoansPayable
818287 usd
CY2024Q2 us-gaap Loans Payable Current
LoansPayableCurrent
746962 usd
CY2023Q2 us-gaap Loans Payable Current
LoansPayableCurrent
586688 usd
CY2024Q2 us-gaap Long Term Loans Payable
LongTermLoansPayable
136375 usd
CY2024Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
2800000 usd
CY2024Q2 lsh Percentage Of Account Receivable
PercentageOfAccountReceivable
0.958 pure
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
25909 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
150459 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
30808 usd
CY2024 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
28157 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-93742 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
54066 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
25909 usd
CY2024 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
28157 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-93742 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
737434 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
737434 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
392551 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
247914 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
344883 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
489520 usd
CY2024Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.085 pure
CY2024 us-gaap Sales Type Lease Initial Direct Cost Expense Commencement
SalesTypeLeaseInitialDirectCostExpenseCommencement
2094498 usd
CY2024Q2 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.085 pure
CY2024 us-gaap Operating Lease Expense
OperatingLeaseExpense
1005686 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
826284 usd
CY2024 lsh Finance Lease Expenses
FinanceLeaseExpenses
32525 usd
CY2023 lsh Finance Lease Expenses
FinanceLeaseExpenses
33756 usd
CY2024 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
30712 usd
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
31780 usd
CY2024 us-gaap Operating Lease Payments
OperatingLeasePayments
846992 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
833365 usd
CY2024 lsh Finance Leases Payments
FinanceLeasesPayments
1813 usd
CY2023 lsh Finance Leases Payments
FinanceLeasesPayments
1976 usd
CY2024 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
29628 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
20640 usd
CY2024 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2094498 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
124600 usd
CY2024 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
19982 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
32107 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y18D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M18D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M21D
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M17D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.063 pure
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0342 pure
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0651 pure
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0411 pure
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1391267 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1245608 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
529084 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
548629 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
521614 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4236202 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
542991 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3693211 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
38961 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
14994 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
3154 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
57109 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2030 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
55079 usd
CY2024Q2 lsh Credit Card Payables
CreditCardPayables
235673 usd
CY2023Q2 lsh Credit Card Payables
CreditCardPayables
141645 usd
CY2024Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
120379 usd
CY2023Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
58853 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
435019 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
112044 usd
CY2024Q2 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
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CY2023Q2 us-gaap Accounts Payable Other Current And Noncurrent
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FY
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0001996192

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