2024 Q3 Form 20-F Financial Statement

#000192998024000320 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q1 2024
Revenue $250.9K $6.545M
YoY Change -99.44% -93.33%
Cost Of Revenue $247.0K $6.536M
YoY Change -99.42% -92.98%
Gross Profit $3.890K $9.141K
YoY Change -99.85% -99.82%
Gross Profit Margin 1.55% 0.14%
Selling, General & Admin -$7.906M $2.823M
YoY Change -118.59% -95.6%
% of Gross Profit -203236.5% 30882.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $354.5K $1.126K
YoY Change -81.05% -99.93%
% of Gross Profit 9111.83% 12.32%
Operating Expenses -$7.906M -$4.631M
YoY Change -118.17% -106.3%
Operating Profit $7.910M -$4.622M
YoY Change -119.29% -93.24%
Interest Expense -$40.04K $39.17K
YoY Change 100.2% -45.83%
% of Operating Profit -0.51%
Other Income/Expense, Net $3.874M $831.5K
YoY Change -348.08%
Pretax Income -$13.54M -$3.790M
YoY Change -72.31% -94.49%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$18.32M -$6.980M
YoY Change -65.01% -90.27%
Net Earnings / Revenue -7303.95% -106.64%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.87 -$2.13
COMMON SHARES
Basic Shares Outstanding 612.3K shares 4.733M shares
Diluted Shares Outstanding 4.733M shares

Balance Sheet

Concept 2024 Q3 2024 Q1 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $944.2K $944.2K
YoY Change -72.23% -72.23%
Cash & Equivalents $944.2K $944.2K
Short-Term Investments
Other Short-Term Assets $47.35K $1.896M
YoY Change -82.06% -56.91%
Inventory
Prepaid Expenses
Receivables $11.36K $11.36K
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.852M $2.852M
YoY Change -70.86% -70.9%
LONG-TERM ASSETS
Property, Plant & Equipment $12.60K $12.60K
YoY Change -99.85% -99.85%
Goodwill $3.376M
YoY Change -47.7%
Intangibles $1.488M
YoY Change -84.24%
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $4.877M $4.877M
YoY Change -81.63% -81.6%
TOTAL ASSETS
Total Short-Term Assets $2.852M $2.852M
Total Long-Term Assets $4.877M $4.877M
Total Assets $7.729M $7.729M
YoY Change -78.73% -78.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.560M $2.560M
YoY Change -80.98% -86.23%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.560M $2.560M
YoY Change -87.78% -87.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.560M $2.560M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $2.560M $2.148M
YoY Change -88.6% -90.05%
SHAREHOLDERS EQUITY
Retained Earnings -$61.96M
YoY Change 4.21%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.581M $5.581M
YoY Change
Total Liabilities & Shareholders Equity $7.729M $7.729M
YoY Change -78.73% -78.71%

Cashflow Statement

Concept 2024 Q3 2024 Q1 2024
OPERATING ACTIVITIES
Net Income -$18.32M -$6.980M
YoY Change -65.01% -90.27%
Depreciation, Depletion And Amortization $354.5K $1.126K
YoY Change -81.05% -99.93%
Cash From Operating Activities -$169.6K -$11.88M
YoY Change -98.68% -43.69%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $543.0K $11.70M
YoY Change 352.53% 8255.99%
Cash From Investing Activities $543.0K $11.70M
YoY Change 239.4% 12996.86%
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 $0.00
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -169.6K -$11.88M
Cash From Investing Activities 543.0K $11.70M
Cash From Financing Activities 0.000 $0.00
Net Change In Cash 373.4K -$1.105M
YoY Change -103.34% -93.25%
FREE CASH FLOW
Cash From Operating Activities -$169.6K -$11.88M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$169.6K -$11.88M
YoY Change -98.68% -43.82%

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CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2024 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2023 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2024 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2024 us-gaap Net Income Loss
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2024 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.75
CY2023 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2022 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-2.89
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
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CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
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CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
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4732726 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5678081 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2022 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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CY2022 us-gaap Stock Issued During Period Value Conversion Of Units
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NetIncomeLossDuringPeriod
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CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2023 us-gaap Stock Issued During Period Value New Issues
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CY2023 pavs Stock Issued During Period For Share Sonsolidation Amount
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CY2023 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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CY2023 pavs Convention Of Class A Ordinary Shares Into Class B Ordinary Shares Amount
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NetIncomeLossDuringPeriod
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CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2024 pavs Share Cancellation Amount
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NetIncomeLossDuringPeriod
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CY2024 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023 us-gaap Profit Loss
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CY2022 us-gaap Profit Loss
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CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2024 pavs Goodwill Impairment Loss1
GoodwillImpairmentLoss1
1807850 usd
CY2023 pavs Goodwill Impairment Loss1
GoodwillImpairmentLoss1
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CY2022 pavs Goodwill Impairment Loss1
GoodwillImpairmentLoss1
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CY2024 pavs Gain Loss On Sale Of Property Plants Equipment
GainLossOnSaleOFPropertyPlantsEquipment
0 usd
CY2023 pavs Gain Loss On Sale Of Property Plants Equipment
GainLossOnSaleOFPropertyPlantsEquipment
-87122 usd
CY2022 pavs Gain Loss On Sale Of Property Plants Equipment
GainLossOnSaleOFPropertyPlantsEquipment
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CY2024 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
1086231 usd
CY2024 pavs Gain On Disposal Of Discontinued Operations
GainOnDisposalOfDiscontinuedOperations
7547428 usd
CY2023 pavs Gain On Disposal Of Discontinued Operations
GainOnDisposalOfDiscontinuedOperations
3039676 usd
CY2022 pavs Gain On Disposal Of Discontinued Operations
GainOnDisposalOfDiscontinuedOperations
0 usd
CY2024 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
11360 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-13516 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
13516 usd
CY2024 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-344479 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
344479 usd
CY2024 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
588607 usd
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1034655 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4342157 usd
CY2024 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
0 usd
CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
311111 usd
CY2024 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
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CY2023 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
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CY2022 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
2904231 usd
CY2024 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
4712 usd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
4275 usd
CY2024 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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CY2024 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
4568288 usd
CY2023 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
72586577 usd
CY2022 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
44503488 usd
CY2024 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
273650 usd
CY2024 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
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CY2023 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
0 usd
CY2022 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
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CY2024 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
11698379 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
0 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-273650 usd
CY2024 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0 usd
CY2023 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
89322 usd
CY2022 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-8205471 usd
CY2024 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
11698379 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
89322 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8479121 usd
CY2024 pavs Ordinary Shares Issued For Cash
OrdinarySharesIssuedForCash
0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
3000000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
18877600 usd
CY2024 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
0 usd
CY2023 pavs Ordinary Shares Issued For Cash
OrdinarySharesIssuedForCash
3000000 usd
CY2022 pavs Ordinary Shares Issued For Cash
OrdinarySharesIssuedForCash
18877600 usd
CY2024 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 usd
CY2023 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
145524 usd
CY2022 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
-46814 usd
CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3145524 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18830786 usd
CY2024 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-928253 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1477741 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
95575 usd
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1105120 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1745545 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-51269 usd
CY2024 pavs Cash And Cash Equivalents Of Continuing Operations Beginning Of Year
CashAndCashEquivalentsOfContinuingOperationsBeginningOfYear
2049362 usd
CY2023 pavs Cash And Cash Equivalents Of Continuing Operations Beginning Of Year
CashAndCashEquivalentsOfContinuingOperationsBeginningOfYear
303817 usd
CY2022 pavs Cash And Cash Equivalents Of Continuing Operations Beginning Of Year
CashAndCashEquivalentsOfContinuingOperationsBeginningOfYear
355086 usd
CY2024 pavs Cash And Cash Equivalents Of Discontinued Operations Beginning Of Year
CashAndCashEquivalentsOfDiscontinuedOperationsBeginningOfYear
1306125 usd
CY2023 pavs Cash And Cash Equivalents Of Discontinued Operations Beginning Of Year
CashAndCashEquivalentsOfDiscontinuedOperationsBeginningOfYear
19429814 usd
CY2022 pavs Cash And Cash Equivalents Of Discontinued Operations Beginning Of Year
CashAndCashEquivalentsOfDiscontinuedOperationsBeginningOfYear
36203666 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3355487 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19733631 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36558752 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
944242 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3355487 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19733631 usd
CY2024 pavs Less Cash And Cash Equivalents Of Discontinued Operations End Of Year
LessCashAndCashEquivalentsOfDiscontinuedOperationsEndOfYear
0 usd
CY2023 pavs Less Cash And Cash Equivalents Of Discontinued Operations End Of Year
LessCashAndCashEquivalentsOfDiscontinuedOperationsEndOfYear
1306125 usd
CY2022 pavs Less Cash And Cash Equivalents Of Discontinued Operations End Of Year
LessCashAndCashEquivalentsOfDiscontinuedOperationsEndOfYear
19429814 usd
CY2024 pavs Cash And Cash Equivalents Of Continuing Operations End Of Year
CashAndCashEquivalentsOfContinuingOperationsEndOfYear
944242 usd
CY2023 pavs Cash And Cash Equivalents Of Continuing Operations End Of Year
CashAndCashEquivalentsOfContinuingOperationsEndOfYear
2049362 usd
CY2022 pavs Cash And Cash Equivalents Of Continuing Operations End Of Year
CashAndCashEquivalentsOfContinuingOperationsEndOfYear
303817 usd
CY2024 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
90742 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2024 us-gaap Interest Paid Net
InterestPaidNet
29298 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2022 pavs Stock Issued For Cash
StockIssuedForCash
0 usd
CY2023 pavs Stock Issued For Cash
StockIssuedForCash
3000000 usd
CY2024 pavs Stock Issued For Cash
StockIssuedForCash
0 usd
CY2018Q3 pavs Equity Method Investment Interest Description
EquityMethodInvestmentInterestDescription
Mr. Wang Xuezhu and other shareholders of Fujian Happiness transferred their 100% ownership interests in Fujian Happiness to Happiness Fuzhou, which is 100% owned by Happiness Hong Kong. After the reorganization, Paranovus Cayman owns 100% equity interests of Fujian Happiness. Mr. Wang Xuezhu, who owns 52.37% ownership of Paranovus Cayman, became the ultimate controlling shareholder (“the Controlling Shareholder”) of the Company
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
77223100 shares
CY2024 us-gaap Profit Loss
ProfitLoss
-9927324 usd
CY2024 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11875246 usd
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-61957019 usd
CY2024Q2 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
750000 usd
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">In preparing the consolidated financial statements in conformity with US 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 estimates required to be made by management include,   but are not limited to, the valuation of accounts receivable and related allowance for doubtful accounts, useful lives of property, plant and equipment, net and intangible assets, the recoverability of long-lived assets, inventory reserve, allowance for credit losses, goodwill impairment, income taxes related to realization of deferred tax assets and uncertain tax position, provisions necessary for contingent liabilities and purchase price allocation in connection with the business combination. The current economic environment has increased the degrees of uncertainty inherent in those estimates and assumptions, actual results could differ from those estimates.</p>
CY2024 pavs Sales From Our Product Lines
SalesFromOurProductLines
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="10" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>For the years ended March 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2024</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2023</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2022</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Automobile</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">6,544,819</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">23,332,223</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">20,758,645</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><strong>Revenue</strong></p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;vertical-align:bottom;white-space: nowrap;"><strong>$</strong></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;"><strong>6,544,819</strong></td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;vertical-align:bottom;white-space: nowrap;"><strong>$</strong></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;"><strong>23,332,223</strong></td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;vertical-align:bottom;white-space: nowrap;"><strong>$</strong></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;"><strong>20,758,645</strong></td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2024 us-gaap Revenues
Revenues
6544819 usd
CY2023 us-gaap Revenues
Revenues
23332223 usd
CY2022 us-gaap Revenues
Revenues
20758645 usd
CY2024 pavs After Tax Profit
AfterTaxProfit
0.10 pure
CY2024 pavs Accumulative Amount Of Reserve
AccumulativeAmountOfReserve
0.50 pure
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><em>Exchange Rate Risks</em></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company operates in China, which may give rise to significant foreign currency risks from fluctuations and the degree of volatility of foreign exchange rates between the US$ and the RMB. As of March 31, 2024 and 2023, cash and cash equivalents of $602,235 (RMB 4,272,854) and $1,825,187 (RMB 12,542,139), respectively, is denominated in RMB and is held in PRC.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><em>Currency Convertibility Risks</em></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Substantially all of the Company’s operating activities are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with other information such as suppliers’ invoices, shipping documents and signed contracts.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><em>Concentration of Credit Risks</em></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Financial instruments that potentially subject the Company to concentration of credit risks consist primarily of cash and cash equivalents and accounts receivable, the balances of which are stated on the consolidated balance sheets which represent the Company’s maximum exposure. The Company places its cash and cash equivalents in good credit quality financial institutions in China. Concentration of credit risks with respect to accounts receivables is linked to the concentration of revenue. To manage credit risk, the Company performs ongoing credit evaluations of customers’ financial condition.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in"><em>Interest Rate Risks</em></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company is subject to interest rate risk. Bank interest bearing loans are charged at variable interest rates within the reporting period. The Company is subject to the risk of adverse changes in the interest rates charged by the banks when these loans are refinanced.</p>
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
11360 usd
CY2023Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
0 usd
CY2024Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
11360 usd
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
0 usd
CY2024Q1 us-gaap Supplies
Supplies
74362 usd
CY2023Q1 us-gaap Supplies
Supplies
1229829 usd
CY2024Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
273643 usd
CY2023Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
0 usd
CY2024Q1 pavs Advance Payment Of Intangible Asset
AdvancePaymentOfIntangibleAsset
1500000 usd
CY2023Q1 pavs Advance Payment Of Intangible Asset
AdvancePaymentOfIntangibleAsset
0 usd
CY2024Q1 pavs Vat Deductibles
VatDeductibles
752 usd
CY2023Q1 pavs Vat Deductibles
VatDeductibles
0 usd
CY2024Q1 pavs Investment Receivables From The Investors
InvestmentReceivablesFromTheInvestors
0 usd
CY2023Q1 pavs Investment Receivables From The Investors
InvestmentReceivablesFromTheInvestors
2000000 usd
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
47352 usd
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
77673 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1896109 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
3307502 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
20275 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
20934 usd
CY2024Q1 pavs Less Accumulated Depreciation
LessAccumulatedDepreciation
7679 usd
CY2023Q1 pavs Less Accumulated Depreciation
LessAccumulatedDepreciation
7464 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12596 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13470 usd
CY2024 us-gaap Depreciation
Depreciation
1126 usd
CY2023 us-gaap Depreciation
Depreciation
27084 usd
CY2022 us-gaap Depreciation
Depreciation
34610 usd
CY2024 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
5894 usd
CY2023Q1 pavs Finite Lived Proprietary Technology Gross
FiniteLivedProprietaryTechnologyGross
1900000 usd
CY2023Q1 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
1900000 usd
CY2024Q1 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
1900000 usd
CY2024Q1 pavs Finite Lived Proprietary Technology Gross
FiniteLivedProprietaryTechnologyGross
1900000 usd
CY2024 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
411667 usd
CY2023 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
31667 usd
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1488333 usd
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1868333 usd
CY2023 us-gaap Sale Leaseback Transaction Transaction Costs Financing Activities
SaleLeasebackTransactionTransactionCostsFinancingActivities
1900000 usd
CY2024 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
380000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
31667 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
380000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
380000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
380000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
348333 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1488333 usd
CY2024Q1 us-gaap Goodwill Gross
GoodwillGross
5184036 usd
CY2023Q1 us-gaap Goodwill Gross
GoodwillGross
5184036 usd
CY2024Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
1807850 usd
CY2023Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2024Q1 pavs Goodwill Net
GoodwillNet
3376186 usd
CY2023Q1 pavs Goodwill Net
GoodwillNet
5184036 usd
CY2024 pavs Scheduleofcarrying Amount Of Goodwilltabletextblock
ScheduleofcarryingAmountOfGoodwilltabletextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><strong>As of </strong><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>March 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><strong>As of </strong><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>March 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2024</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2023</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Goodwill</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">5,184,036</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Acquisitions (Note 12)</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">5,184,036</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Impairment</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(1,807,850 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">-</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Goodwill, net</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">3,376,186</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">5,184,036</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2024 us-gaap Goodwill Transfers
GoodwillTransfers
5184036 usd
CY2023 us-gaap Goodwill Transfers
GoodwillTransfers
0 usd
CY2024 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
CY2023 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
5184036 usd
CY2024 us-gaap Asset Impairment Charges
AssetImpairmentCharges
-1807850 usd
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2024Q1 us-gaap Goodwill
Goodwill
3376186 usd
CY2023Q1 us-gaap Goodwill
Goodwill
5184036 usd
CY2024 us-gaap Asset Impairment Charges
AssetImpairmentCharges
-1807850 usd
CY2024Q1 us-gaap Customer Advances Current
CustomerAdvancesCurrent
73953 usd
CY2023Q1 us-gaap Customer Advances Current
CustomerAdvancesCurrent
655922 usd
CY2024Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
7277 usd
CY2023Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
9900 usd
CY2024Q1 pavs Loan Payable To The Third Party
LoanPayableToTheThirdParty
2289167 usd
CY2023Q1 pavs Loan Payable To The Third Party
LoanPayableToTheThirdParty
0 usd
CY2024Q1 pavs Deposit
Deposit
50000 usd
CY2023Q1 pavs Deposit
Deposit
0 usd
CY2024Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
139984 usd
CY2023Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
57488 usd
CY2024Q1 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
2560381 usd
CY2023Q1 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
723310 usd
CY2023Q4 pavs Aggregate Loan Amount
AggregateLoanAmount
2250000 usd
CY2024 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.08 pure
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
160000 shares
CY2020Q1 pavs Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Optionsoutstanding Weighted Average Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherOptionsoutstandingWeightedAverageExercisePrices
6.60
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P4Y7M6D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
CY2021 pavs Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Granted
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueGranted
0 usd
CY2021 pavs Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Forfeited
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueForfeited
0 usd
CY2021 pavs Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Exercised
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueExercised
0 usd
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
160000 shares
CY2021Q1 pavs Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Optionsoutstanding Weighted Average Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherOptionsoutstandingWeightedAverageExercisePrices
6.60
CY2021 pavs Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms One
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTermsOne
P3Y7M6D
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
160000 shares
CY2022Q1 pavs Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Optionsoutstanding Weighted Average Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherOptionsoutstandingWeightedAverageExercisePrices
6.60
CY2022 pavs Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms One
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTermsOne
P2Y7M6D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
8000 shares
CY2023Q1 pavs Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Optionsoutstanding Weighted Average Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherOptionsoutstandingWeightedAverageExercisePrices
132.00
CY2023 pavs Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms One
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTermsOne
P1Y7M6D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
8000 shares
CY2024Q1 pavs Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Optionsoutstanding Weighted Average Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherOptionsoutstandingWeightedAverageExercisePrices
132.00
CY2024 pavs Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms One
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTermsOne
P0Y7M6D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
0 usd
CY2024 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
effective from January 1, 2008, both domestically-owned enterprises and foreign-invested enterprises are subject to a uniform tax rate of 25% while preferential tax rates, tax holidays and even tax exemption may be granted on case-by-case basis. EIT grants preferential tax treatment to High and New Technology Enterprises (“HNTEs”). Under this preferential tax treatment, HNTEs are entitled to an income tax rate of 15%, subject to a requirement
CY2024Q1 pavs Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Percent
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxPercent
0.15 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.250 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.250 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.250 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.100 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.100 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.100 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.001 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.001 pure
CY2024 pavs Effective Income Tax Rate Reconciliation Deduction
EffectiveIncomeTaxRateReconciliationDeduction
-0.150 pure
CY2023 pavs Effective Income Tax Rate Reconciliation Deduction
EffectiveIncomeTaxRateReconciliationDeduction
-0.149 pure
CY2022 pavs Effective Income Tax Rate Reconciliation Deduction
EffectiveIncomeTaxRateReconciliationDeduction
-0.149 pure
CY2024 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2996 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
696 usd
CY2024 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
0 usd
CY2023 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
2996 usd
CY2022 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
696 usd
CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
137376 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
88609 usd
CY2022Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
530886 usd
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
137376 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
88609 usd
CY2022Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
530886 usd
CY2024Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2024Q1 pavs Value Added Tax Payable
ValueAddedTaxPayable
0 usd
CY2023Q1 pavs Value Added Tax Payable
ValueAddedTaxPayable
8694 usd
CY2024Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
0 usd
CY2023Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
293 usd
CY2024Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 usd
CY2023Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
8987 usd
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
1900000 usd
CY2022 pavs Exchange Gain Amount
ExchangeGainAmount
300000 usd
CY2022Q1 us-gaap Discontinued Operation Equity Method Investment Retained After Disposal Ownership Interest Prior To Disposal
DiscontinuedOperationEquityMethodInvestmentRetainedAfterDisposalOwnershipInterestPriorToDisposal
1 pure
CY2022Q1 pavs Over Paid
OverPaid
12000000.0 cny
CY2023Q2 pavs Cash Consideration For Equity Interests
CashConsiderationForEquityInterests
11300000 usd
CY2023Q3 pavs Cash Consideration For Equity Interests
CashConsiderationForEquityInterests
700000 usd
CY2024 us-gaap Risks And Uncertainties In Entitys Business
RisksAndUncertaintiesInEntitysBusiness
Significant customers and suppliers are those that account for greater than 10% of the Company’s revenues and purchases
CY2022Q3 us-gaap Percentage Of Fifo Inventory
PercentageOfFIFOInventory
0.10 pure
CY2024 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.10 pure

Files In Submission

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