$NPLS
NP Life Sciences Health Industry Group Inc.

2023 Q4 Form 10-Q Financial Statement

#000149315223041311 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $10.01K $17.52K $41.00K
YoY Change -78.25% -57.28%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $45.87K $54.96K
YoY Change 55.91%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $45.87K $54.96K
YoY Change 55.91%
Operating Profit -$37.45K -$5.440K
YoY Change 588.33% -73.89%
Interest Expense -$230.00 -$230.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$225.00
YoY Change
Pretax Income -$36.09K -$37.45K -$5.440K
YoY Change -317.41% 588.33% -73.88%
Income Tax -$20.73K
% Of Pretax Income
Net Earnings -$15.36K -$37.67K -$5.440K
YoY Change -192.53% 592.46% -73.88%
Net Earnings / Revenue -153.45% -215.07% -13.27%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 42.96M shares 42.96M shares 42.96M shares
Diluted Shares Outstanding 42.96M shares 42.96M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.61K $84.55K
YoY Change -42.06%
Cash & Equivalents $70.61K $84.55K $6.951K
Short-Term Investments
Other Short-Term Assets $6.250K $10.77K
YoY Change 5.4%
Inventory
Prepaid Expenses $6.250K $10.77K $9.993K
Receivables
Other Receivables
Total Short-Term Assets $76.86K $95.32K
YoY Change -39.85%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $4.00 $1.00
YoY Change 0.0%
TOTAL ASSETS
Total Short-Term Assets $76.86K $95.32K
Total Long-Term Assets $4.00 $1.00
Total Assets $76.86K $95.32K $16.94K
YoY Change -39.85% 462.56% -32.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.130K $6.025K $9.226K
YoY Change 0.0% -34.7%
Accrued Expenses $25.10K $3.419K $5.000K
YoY Change 816.28% -31.62% -73.84%
Deferred Revenue $10.01K
YoY Change
Short-Term Debt $0.00 $22.36K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.12K $63.59K
YoY Change -64.86%
LONG-TERM LIABILITIES
Long-Term Debt $22.36K $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $22.36K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $38.12K $63.59K
Total Long-Term Liabilities $22.36K $0.00
Total Liabilities $60.48K $63.59K $14.23K
YoY Change -44.24% 346.96% -25.56%
SHAREHOLDERS EQUITY
Retained Earnings -$348.2K -$332.9K -$361.9K
YoY Change 0.85% -8.02%
Common Stock $4.296K $4.296K $4.296K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.38K $31.74K $2.718K
YoY Change
Total Liabilities & Shareholders Equity $76.86K $95.32K $16.94K
YoY Change -39.85% 462.56% -32.25%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$15.36K -$37.67K -$5.440K
YoY Change -192.53% 592.46% -73.88%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$13.94K -$40.56K
YoY Change -114.85%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
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
YoY Change
NET CHANGE
Cash From Operating Activities -13.94K -40.56K
Cash From Investing Activities
Cash From Financing Activities 0.000 0.000
Net Change In Cash -13.94K -40.56K
YoY Change -114.85%
FREE CASH FLOW
Cash From Operating Activities -$13.94K -$40.56K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_806_eus-gaap--NatureOfOperations_zlSm3U3MD66a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>1. <span id="xdx_82E_zdeslT4Oziwe">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">NP Life Sciences Health Industry Group Inc. (the “Company”) is a for profit corporation established under the corporation laws in the State of Nevada, United States on December 20, 2018. The Company was originally incorporated as “Guojiang Cultural Industry US, Inc.” and amended the name to “GJ Culture Group US, Inc.” on February 20, 2019. On September 8, 2022, the Company filed a Certificate of Amendment to its Articles of Incorporation with the State of Nevada to reflect its corporate name change from “GJ Culture Group US, Inc.” to “NP Life Sciences Health Industry Group Inc.”. Unless the context otherwise requires, all references to “NP Life Sciences Health Industry Group Inc.,” “GJ Culture Group US, Inc.,” “we,” “us,” “our” or the “Company” are to NP Life Sciences Health Industry Group Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company is dedicated to providing educational services based on classical Chinese studies and culture. The Company’s goal is to serve as cultural and educational meeting point between China and the U.S. The Company intends to pursue its business objective by providing education and training courses based on classical Chinese studies, organizing China-U.S. international study tour activities for participants of all ages, as well as organizing and promoting China-U.S. cultural events, art fairs, exhibitions, and other activities promoting Chinese culture.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On November 8, 2022, the Company established a wholly owned subsidiary, GW Health Consulting Management Inc. (herein after referred to as “GW”), a California Corporation. GW’s current business is limited to providing online career planning experience sharing and guidance related consulting services. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On March 8, 2023, GW established a wholly owned subsidiary, NLPL Health Industry Group Co., Limited, a Hong Kong based company, which had no business transactions in the reporting period. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On August 16, 2023, the Company established a subsidiary named NP Life Sciences Health (Singapore) Pte. Ltd., a Singapore based company in which the Company holds <span id="xdx_905_eus-gaap--MinorityInterestOwnershipPercentageByParent_iI_pid_dp_uPure_c20230816__srt--OwnershipAxis__custom--NPLifeSciencesHealthSingaporePteLtdMember_z86vhTvBsggk" title="Ownership percentage">90</span>% of the shares and an individual holds <span id="xdx_905_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20230816__srt--OwnershipAxis__custom--IndividualHolderMember_zhg4Af8ht3Dc" title="Ownership percentage">10</span>% of the shares; there was no business transaction in the reporting period by this subsidiary. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10007 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
99599 usd
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10007 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
99599 usd
us-gaap Net Income Loss
NetIncomeLoss
12420 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-332890 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_z71qWxqmBmc8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span id="xdx_861_zzCeX0m32lU4">Use of Estimates and Assumptions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make 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 period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Due to the limited level of operations, the Company has not needed to make material assumptions or estimates other than the assumption that the Company is a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
us-gaap Net Income Loss
NetIncomeLoss
12420 usd
us-gaap Net Income Loss
NetIncomeLoss
-35454 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42959574 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42959574 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42959574 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42959574 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42959574 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42959574 shares
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10770 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5925 usd
CY2023Q3 NPLS Prepayment To Annual Fee Unamortized Portion
PrepaymentToAnnualFeeUnamortizedPortion
10000 usd
CY2022Q4 NPLS Prepayment To Annual Fee Unamortized Portion
PrepaymentToAnnualFeeUnamortizedPortion
5925 usd
CY2023Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
770 usd
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10770 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5925 usd
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0884 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
385309 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
345220 usd

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