$NPLS
NP Life Sciences Health Industry Group Inc.

2024 Q2 Form 10-K Financial Statement

#000149315224014774 Filed on April 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $10.01K $164.6K
YoY Change -78.25% 61.39%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $45.87K $165.3K
YoY Change 55.91% 36.78%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $45.87K $165.3K
YoY Change 55.91% 36.78%
Operating Profit -$690.00
YoY Change -96.34%
Interest Expense -$230.00 $645.00
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$36.09K -$1.335K
YoY Change -317.41% -92.92%
Income Tax -$20.73K $1.600K
% Of Pretax Income
Net Earnings -$15.36K -$2.935K
YoY Change -192.53% -84.43%
Net Earnings / Revenue -153.45% -1.78%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 42.96M shares 42.96M shares 42.96M shares
Diluted Shares Outstanding 42.96M shares

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.61K
YoY Change -42.06%
Cash & Equivalents $70.61K
Short-Term Investments
Other Short-Term Assets $6.250K
YoY Change 5.4%
Inventory
Prepaid Expenses $6.250K
Receivables
Other Receivables
Total Short-Term Assets $76.86K
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
YoY Change 0.0%
TOTAL ASSETS
Total Short-Term Assets $76.86K
Total Long-Term Assets $4.00
Total Assets $76.86K
YoY Change -39.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.130K
YoY Change 0.0%
Accrued Expenses $25.10K
YoY Change 816.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.12K
YoY Change -64.86%
LONG-TERM LIABILITIES
Long-Term Debt $22.36K
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $22.36K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $38.12K
Total Long-Term Liabilities $22.36K
Total Liabilities $60.48K
YoY Change -44.24%
SHAREHOLDERS EQUITY
Retained Earnings -$348.2K
YoY Change 0.85%
Common Stock $4.296K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.38K
YoY Change
Total Liabilities & Shareholders Equity $76.86K
YoY Change -39.85%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$15.36K -$2.935K
YoY Change -192.53% -84.43%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$13.94K -$73.61K
YoY Change -114.85% -178.41%
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 $22.36K
YoY Change
NET CHANGE
Cash From Operating Activities -13.94K -$73.61K
Cash From Investing Activities
Cash From Financing Activities 0.000 $22.36K
Net Change In Cash -13.94K -$51.25K
YoY Change -114.85% -154.59%
FREE CASH FLOW
Cash From Operating Activities -$13.94K -$73.61K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_806_eus-gaap--NatureOfOperations_zwdj1dWW9c5c" style="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"><b>1.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_822_zNfq7QUrWZwb">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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_zwYNoErINp4g" 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_zZctbQCTv4Ie" 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_845_eus-gaap--UseOfEstimates_z3YAF3EkiTyc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_z4UhMlmeoXY4">Use of Estimates and Assumptions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
164621 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
102002 usd
CY2023 us-gaap Profit Loss
ProfitLoss
-2935 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-18856 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42959574 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42959574 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42959574 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42959574 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
6250 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5925 usd
CY2023Q4 NPLS Prepayment To Annual Fee Unamortized Portion
PrepaymentToAnnualFeeUnamortizedPortion
6250 usd
CY2022Q4 NPLS Prepayment To Annual Fee Unamortized Portion
PrepaymentToAnnualFeeUnamortizedPortion
5925 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
6250 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
5925 usd
CY2022 us-gaap Deferred Income Addition
DeferredIncomeAddition
99599 usd
CY2022Q4 us-gaap Deferred Income
DeferredIncome
99599 usd
CY2022Q4 us-gaap Deferred Income
DeferredIncome
99599 usd
CY2023 us-gaap Deferred Income Revenue Recognized
DeferredIncomeRevenueRecognized
99599 usd
CY2023 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
645 usd
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
144599 usd
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
102002 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-348245 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-345310 usd
CY2023 us-gaap Profit Loss
ProfitLoss
-2935 usd
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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