$QDMI
QDM International Inc.

2023 Q3 Form 10-Q Financial Statement

#000121390023067111 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023 Q1
Revenue $1.164M $3.273M
YoY Change 8728.81% 33362.35%
Cost Of Revenue $713.6K $2.046M
YoY Change 5314.13% 20816.8%
Gross Profit $450.1K $1.227M
YoY Change
Gross Profit Margin 38.68% 37.49%
Selling, General & Admin $123.9K $154.6K
YoY Change 65.62% 60.05%
% of Gross Profit 27.53% 12.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.80K $3.527K
YoY Change 416.75% 159.15%
% of Gross Profit 2.4% 0.29%
Operating Expenses $123.9K $154.6K
YoY Change 65.62% 60.05%
Operating Profit $326.2K $1.073M
YoY Change -535.92% -1210.03%
Interest Expense -$250.00 -$470.00
YoY Change 31.58% -16.07%
% of Operating Profit -0.08% -0.04%
Other Income/Expense, Net $2.220K $30.30K
YoY Change 42.58% 6360.55%
Pretax Income $328.4K $1.103M
YoY Change -548.22% -1246.95%
Income Tax $59.78K $160.2K
% Of Pretax Income 18.2% 14.53%
Net Earnings $268.6K $942.6K
YoY Change -466.63% -1080.33%
Net Earnings / Revenue 23.08% 28.8%
Basic Earnings Per Share $0.01 $0.03
Diluted Earnings Per Share $0.01 $0.03
COMMON SHARES
Basic Shares Outstanding 29.16M shares 210.0K shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.474M $4.618M
YoY Change 3445.56% 17148.97%
Cash & Equivalents $5.474M $4.618M $2.718M
Short-Term Investments
Other Short-Term Assets $18.84K $15.11K
YoY Change -84.92% -79.63%
Inventory
Prepaid Expenses $18.84K $15.11K $18.86K
Receivables $132.4K $436.0K $291.9K
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.625M $5.069M $3.029M
YoY Change 1899.15% 4873.08% 1936.56%
LONG-TERM ASSETS
Property, Plant & Equipment $96.62K $107.4K $18.26K
YoY Change 383.01% 386.16% 393.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.32K $86.32K
YoY Change
Total Long-Term Assets $432.6K $469.3K $121.5K
YoY Change 277.59% 272.5% -0.33%
TOTAL ASSETS
Total Short-Term Assets $5.625M $5.069M $3.029M
Total Long-Term Assets $432.6K $469.3K $121.5K
Total Assets $6.058M $5.538M $3.150M
YoY Change 1429.94% 2329.88% 1063.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.398M $1.209M
YoY Change 18689.11% 6375.79%
Accrued Expenses $111.8K $109.5K
YoY Change 190.62% 188.13%
Deferred Revenue
YoY Change
Short-Term Debt $1.167M $1.139M
YoY Change 18.4% 30.09%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.897M $2.618M $1.299M
YoY Change 180.79% 180.78% 49.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $142.2K $171.0K
YoY Change 161.8% 166.75%
Total Long-Term Liabilities $142.2K $171.0K
YoY Change 161.8% 166.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.897M $2.618M $1.299M
Total Long-Term Liabilities $142.2K $171.0K
Total Liabilities $3.039M $2.789M $1.344M
YoY Change 179.83% 179.88% 42.24%
SHAREHOLDERS EQUITY
Retained Earnings -$8.780M -$9.048M -$9.991M
YoY Change -13.97% -10.69% -0.44%
Common Stock $3.519K $3.519K $3.519K
YoY Change 463.94% 463.94% 463.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $60.40K $60.40K $60.40K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $3.018M $2.749M $1.806M
YoY Change
Total Liabilities & Shareholders Equity $6.058M $5.538M $3.150M
YoY Change 1429.94% 2329.88% 1063.91%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $268.6K $942.6K
YoY Change -466.63% -1080.33%
Depreciation, Depletion And Amortization $10.80K $3.527K
YoY Change 416.75% 159.15%
Cash From Operating Activities $827.2K $1.892M
YoY Change -971.23% -2248.69%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $92.69K
YoY Change 533.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$92.69K
YoY Change 533.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 29.11K $100.8K
YoY Change -86.95% 68.49%
NET CHANGE
Cash From Operating Activities 827.2K $1.892M
Cash From Investing Activities 0.000 -$92.69K
Cash From Financing Activities 29.11K $100.8K
Net Change In Cash 856.3K $1.900M
YoY Change 568.55% -4530.1%
FREE CASH FLOW
Cash From Operating Activities $827.2K $1.892M
Capital Expenditures $0.00 $92.69K
Free Cash Flow $827.2K $1.799M
YoY Change -971.23% -1852.26%

Facts In Submission

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Yeetah is a registered insurance broker in Hong Kong and subject to certain Hong Kong insurance broker requirements regarding its share capital and net assets. Pursuant to the requirements, a licensed insurance broker must at all times maintain a paid-up share capital of not less than US$64,103 (HK$500,000) and net assets of not less than US$64,103 (HK$500,000), subject to certain transitional arrangements, pursuant which, the Company is required to maintain the amount of paid-up share capital and net assets of (i) not less than US$12,821 (HK$100,000) for the period from September 23, 2019 to December 31, 2021 and (ii) not less than US$38,462 (HK$300,000) for the period from January 1, 2022 to December 31, 2023. Yeetah was in compliance with the requirements as of June 30, 2023.
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
25642 usd
CY2023Q2 qdmi Due To Related Party
DueToRelatedParty
1139235 usd
CY2023Q1 qdmi Due To Related Party
DueToRelatedParty
1047108 usd
CY2023Q2 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
48718 usd
CY2022Q1 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
48718 usd
CY2017Q4 qdmi Assessable Profits
AssessableProfits
2000000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.125 pure
CY2022Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049 pure
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1034 pure
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
10543 usd
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
usd
CY2022Q2 us-gaap Gross Profit
GrossProfit
usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2022Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
usd
CY2022Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
usd
CY2022Q2 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
CY2023Q2 qdmi Debt Forgiveness By Shareholder
DebtForgivenessByShareholder
usd
CY2022Q2 qdmi Debt Forgiveness By Shareholder
DebtForgivenessByShareholder
usd
CY2023Q2 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2023Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2023Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
usd
CY2022Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
usd
CY2023Q2 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
usd
CY2023Q2 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
-
CY2023Q2 dei Amendment Flag
AmendmentFlag
false
CY2023Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2023Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001094032

Files In Submission

Name View Source Status
qdmi-20230630_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001213900-23-067111-index-headers.html Edgar Link pending
0001213900-23-067111-index.html Edgar Link pending
0001213900-23-067111.txt Edgar Link pending
0001213900-23-067111-xbrl.zip Edgar Link pending
f10q0623ex31-1_qdminter.htm Edgar Link pending
f10q0623ex31-2_qdminter.htm Edgar Link pending
f10q0623ex32-1_qdminter.htm Edgar Link pending
f10q0623_qdminter.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
qdmi-20230630.xsd Edgar Link pending
R1.htm Edgar Link pending
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R2.htm Edgar Link pending
qdmi-20230630_lab.xml Edgar Link unprocessable
qdmi-20230630_cal.xml Edgar Link unprocessable
qdmi-20230630_pre.xml Edgar Link unprocessable
f10q0623_qdminter_htm.xml Edgar Link completed
R20.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending