$QDMI
QDM International Inc.

2023 Q4 Form 10-Q Financial Statement

#000121390023087070 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $1.010M $1.164M $13.18K
YoY Change 4097.18% 8728.81% -29.17%
Cost Of Revenue $606.8K $713.6K $13.18K
YoY Change 3575.67% 5314.13% -29.17%
Gross Profit $402.9K $450.1K
YoY Change 5237.62%
Gross Profit Margin 39.91% 38.68%
Selling, General & Admin $200.3K $123.9K $74.82K
YoY Change 160.52% 65.62% -1.0%
% of Gross Profit 49.7% 27.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.53K $10.80K $2.090K
YoY Change 357.83% 416.75%
% of Gross Profit 2.61% 2.4%
Operating Expenses $200.3K $123.9K $74.82K
YoY Change 160.52% 65.62% -1.0%
Operating Profit $202.7K $326.2K -$74.82K
YoY Change -392.34% -535.92% -1.0%
Interest Expense -$110.00 -$250.00 -$190.00
YoY Change -47.62% 31.58% 216.67%
% of Operating Profit -0.05% -0.08%
Other Income/Expense, Net $35.51K $2.220K $1.557K
YoY Change 13989.68% 42.58% -2532.81%
Pretax Income $238.2K $328.4K -$73.27K
YoY Change -444.81% -548.22% -3.14%
Income Tax $46.03K $59.78K
% Of Pretax Income 19.33% 18.2%
Net Earnings $192.1K $268.6K -$73.27K
YoY Change -378.16% -466.63% -3.14%
Net Earnings / Revenue 19.03% 23.08% -555.84%
Basic Earnings Per Share $0.01 $0.01 -$0.35
Diluted Earnings Per Share $0.01 $0.01 -$0.35
COMMON SHARES
Basic Shares Outstanding 29.16M shares 29.16M shares 210.0K shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.323M $5.474M $154.4K
YoY Change 5119.46% 3445.56% 427.98%
Cash & Equivalents $6.323M $5.474M $154.4K
Short-Term Investments
Other Short-Term Assets $70.96K $18.84K $125.0K
YoY Change -30.62% -84.92% 469.86%
Inventory
Prepaid Expenses $70.96K $18.84K $60.97K
Receivables $75.23K $132.4K $2.014K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.469M $5.625M $281.4K
YoY Change 2639.11% 1899.15% 396.06%
LONG-TERM ASSETS
Property, Plant & Equipment $86.09K $96.62K $20.00K
YoY Change 386.25% 383.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.32K $86.32K $0.00
YoY Change
Total Long-Term Assets $395.6K $432.6K $114.6K
YoY Change 284.73% 277.59%
TOTAL ASSETS
Total Short-Term Assets $6.469M $5.625M $281.4K
Total Long-Term Assets $395.6K $432.6K $114.6K
Total Assets $6.865M $6.058M $395.9K
YoY Change 1924.99% 1429.94% 598.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.897M $1.398M $7.440K
YoY Change 12106.89% 18689.11% -61.47%
Accrued Expenses $114.2K $111.8K $38.48K
YoY Change 193.17% 190.62%
Deferred Revenue
YoY Change
Short-Term Debt $1.218M $1.167M $985.8K
YoY Change 21.58% 18.4% 87.32%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.495M $2.897M $1.032M
YoY Change 230.89% 180.79% 89.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $112.8K $142.2K $54.32K
YoY Change 153.91% 161.8%
Total Long-Term Liabilities $112.8K $142.2K $54.32K
YoY Change 153.91% 161.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.495M $2.897M $1.032M
Total Long-Term Liabilities $112.8K $142.2K $54.32K
Total Liabilities $3.608M $3.039M $1.086M
YoY Change 227.79% 179.83% 99.07%
SHAREHOLDERS EQUITY
Retained Earnings -$8.588M -$8.780M -$10.20M
YoY Change -16.41% -13.97%
Common Stock $3.519K $3.519K $624.00
YoY Change 463.94% 463.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $60.40K $60.40K $60.40K
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $3.257M $3.018M -$690.1K
YoY Change
Total Liabilities & Shareholders Equity $6.865M $6.058M $395.9K
YoY Change 1924.99% 1429.94% 598.05%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $192.1K $268.6K -$73.27K
YoY Change -378.16% -466.63% -3.14%
Depreciation, Depletion And Amortization $10.53K $10.80K $2.090K
YoY Change 357.83% 416.75%
Cash From Operating Activities $719.1K $827.2K -$94.95K
YoY Change -1714.8% -971.23% 2.84%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$7.550K
YoY Change
Cash From Investing Activities -$7.550K $0.00 $0.00
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 137.7K 29.11K 223.0K
YoY Change 1213.84% -86.95% 144.62%
NET CHANGE
Cash From Operating Activities 719.1K 827.2K -94.95K
Cash From Investing Activities -7.550K 0.000 0.000
Cash From Financing Activities 137.7K 29.11K 223.0K
Net Change In Cash 849.2K 856.3K 128.1K
YoY Change -2594.01% 568.55% -11238.26%
FREE CASH FLOW
Cash From Operating Activities $719.1K $827.2K -$94.95K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow $719.1K $827.2K -$94.95K
YoY Change -1714.8% -971.23%

Facts In Submission

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dei Document Quarterly Report
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true
dei Document Period End Date
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2023-09-30
dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
EntityRegistrantName
QDM International Inc.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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Room 1030B
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10/F, Ocean Centre, Harbour City
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5 Canton Road, Tsim Sha Tsui
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129869 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
282843 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-207 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-506 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2755899 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
84722 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2717745 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69658 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5473644 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
154380 usd
CY2021Q4 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
5000 eur
CY2021Q4 us-gaap Asset Acquisition Consideration Transferred Transaction Cost
AssetAcquisitionConsiderationTransferredTransactionCost
1 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the Company’s consolidated financial statements in conformity with the U.S. GAAP requires the Company to make certain 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. The reported amounts of revenues and expenses may be affected by the estimates that management is required to make. Actual results could differ from those estimates.</p>
CY2023Q3 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
7.8 pure
CY2022Q3 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
7.8 pure
CY2023Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
7.8 pure
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Certain Risks and Concentration</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and receivables, and other assets. As of September 30, 2023, substantially all of the Company’s cash and cash equivalents were held in major financial institutions located in Hong Kong, which management considers to being of high credit quality.</p>
CY2023Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M24D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049 pure
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M6D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1034 pure
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
32113 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
10543 usd
qdmi Settlement Taxing Authority
SettlementTaxingAuthority
0.50 pure
qdmi Description Of Reverse Stock Split
DescriptionOfReverseStockSplit
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 September 30, 2023.
CY2023Q3 qdmi Due To Related Party
DueToRelatedParty
1167129 usd
CY2023Q1 qdmi Due To Related Party
DueToRelatedParty
1047108 usd
CY2023Q3 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
48718 usd
CY2023Q1 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
48718 usd
CY2017Q4 qdmi Assessable Profits
AssessableProfits
2000000 hkd
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.125 pure
us-gaap Operating Lease Expense
OperatingLeaseExpense
57755 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
21086 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
65457 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
123888 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
95186 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
284531 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
30500 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
254031 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
111825 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
142206 usd
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
usd
us-gaap Gross Profit
GrossProfit
usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
usd
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
usd
CY2023Q3 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
CY2023Q3 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
usd
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001094032

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