$QDMI
QDM International Inc.

2024 Q1 Form 10-Q Financial Statement

#000121390024014097 Filed on February 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4
Revenue $919.4K $1.010M $24.06K
YoY Change 4097.18% -2.21%
Cost Of Revenue $546.3K $606.8K $16.51K
YoY Change 3575.67% -32.89%
Gross Profit $373.2K $402.9K $7.549K
YoY Change 5237.62%
Gross Profit Margin 40.59% 39.91% 31.38%
Selling, General & Admin $174.0K $200.3K $76.88K
YoY Change 160.52% -12.38%
% of Gross Profit 46.63% 49.7% 1018.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.76K $10.53K $2.300K
YoY Change 357.83%
% of Gross Profit 2.88% 2.61% 30.47%
Operating Expenses $174.0K $200.3K $76.88K
YoY Change 160.52% -12.38%
Operating Profit $199.2K $202.7K -$69.33K
YoY Change -392.34% -20.99%
Interest Expense -$120.00 -$110.00 -$210.00
YoY Change -47.62% -129.58%
% of Operating Profit -0.06% -0.05%
Other Income/Expense, Net $5.100K $35.51K $252.00
YoY Change 13989.68%
Pretax Income $204.2K $238.2K -$69.07K
YoY Change -444.81% -20.63%
Income Tax $43.02K $46.03K
% Of Pretax Income 21.07% 19.33%
Net Earnings $161.2K $192.1K -$69.07K
YoY Change -378.16% -20.63%
Net Earnings / Revenue 17.53% 19.03% -287.13%
Basic Earnings Per Share $0.01 -$0.33
Diluted Earnings Per Share $0.00 $0.01 -$0.33
COMMON SHARES
Basic Shares Outstanding 29.16M shares 29.16M shares 210.0K shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.158M $6.323M $121.1K
YoY Change 5119.46% -4.6%
Cash & Equivalents $5.158M $6.323M $121.1K
Short-Term Investments
Other Short-Term Assets $103.4K $70.96K $102.3K
YoY Change -30.62% 180.35%
Inventory
Prepaid Expenses $103.4K $70.96K $35.77K
Receivables $183.6K $75.23K $12.76K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.445M $6.469M $236.2K
YoY Change 79.8% 2639.11% 37.81%
LONG-TERM ASSETS
Property, Plant & Equipment $75.33K $86.09K $17.71K
YoY Change 312.62% 386.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $59.58K $86.32K $0.00
YoY Change
Total Long-Term Assets $331.1K $395.6K $102.8K
YoY Change 172.4% 284.73%
TOTAL ASSETS
Total Short-Term Assets $5.445M $6.469M $236.2K
Total Long-Term Assets $331.1K $395.6K $102.8K
Total Assets $5.776M $6.865M $339.0K
YoY Change 83.37% 1924.99% 97.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $566.8K $1.897M $15.54K
YoY Change 12106.89% 73.63%
Accrued Expenses $109.6K $114.2K $38.95K
YoY Change 193.17%
Deferred Revenue
YoY Change
Short-Term Debt $1.283M $1.218M $1.002M
YoY Change 21.58% 67.72%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.269M $3.495M $1.056M
YoY Change 74.61% 230.89% 74.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $89.73K $112.8K $44.41K
YoY Change 153.91%
Total Long-Term Liabilities $89.73K $112.8K $44.41K
YoY Change 153.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.269M $3.495M $1.056M
Total Long-Term Liabilities $89.73K $112.8K $44.41K
Total Liabilities $2.358M $3.608M $1.101M
YoY Change 75.52% 227.79% 81.56%
SHAREHOLDERS EQUITY
Retained Earnings -$8.426M -$8.588M -$10.27M
YoY Change -15.66% -16.41%
Common Stock $3.519K $3.519K $624.00
YoY Change 0.0% 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 $3.418M $3.257M -$761.7K
YoY Change
Total Liabilities & Shareholders Equity $5.776M $6.865M $339.0K
YoY Change 83.37% 1924.99% 97.8%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income $161.2K $192.1K -$69.07K
YoY Change -378.16% -20.63%
Depreciation, Depletion And Amortization $10.76K $10.53K $2.300K
YoY Change 357.83%
Cash From Operating Activities -$1.230M $719.1K -$44.53K
YoY Change -1714.8% -17.31%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$7.550K
YoY Change
Cash From Investing Activities $0.00 -$7.550K $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 65.33K 137.7K 10.48K
YoY Change 1213.84% -93.09%
NET CHANGE
Cash From Operating Activities -1.230M 719.1K -44.53K
Cash From Investing Activities 0.000 -7.550K 0.000
Cash From Financing Activities 65.33K 137.7K 10.48K
Net Change In Cash -1.165M 849.2K -34.05K
YoY Change -2594.01% -134.84%
FREE CASH FLOW
Cash From Operating Activities -$1.230M $719.1K -$44.53K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$1.230M $719.1K -$44.53K
YoY Change -1714.8%

Facts In Submission

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dei Document Type
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10-Q
dei Document Quarterly Report
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dei Document Period End Date
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2023-12-31
dei Document Transition Report
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dei Entity File Number
EntityFileNumber
000-27251
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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dei Entity Tax Identification Number
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dei Entity Address Address Line1
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Room 1030B
dei Entity Address Address Line2
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10/F, Ocean Centre, Harbour City
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5 Canton Road, Tsim Sha Tsui
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dei City Area Code
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293316 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
311 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3605109 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
51482 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
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6322854 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121140 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
48718 usd
CY2021Q4 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
5000 eur
CY2021Q4 us-gaap Asset Acquisition Consideration Transferred Transaction Cost
AssetAcquisitionConsiderationTransferredTransactionCost
1 usd
CY2023Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
33165 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Certain Risks and Concentration</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 December 31, 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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.50 pure
qdmi Amount Of Maintain Paidup Share Capital
AmountOfMaintainPaidupShareCapital
64103 usd
qdmi Amount Of Maintain Paidup Share Capital
AmountOfMaintainPaidupShareCapital
500000 hkd
qdmi Amount Of Maintain Paidup Share Capital
AmountOfMaintainPaidupShareCapital
12821 usd
qdmi Amount Of Maintain Paidup Share Capital
AmountOfMaintainPaidupShareCapital
100000 hkd
CY2023Q4 us-gaap Assets Net
AssetsNet
38462 usd
CY2023Q4 us-gaap Assets Net
AssetsNet
300000 hkd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
1170000 hkd
CY2023Q4 qdmi Due To Related Party
DueToRelatedParty
1217893 usd
CY2023Q1 qdmi Due To Related Party
DueToRelatedParty
1047108 usd
CY2023Q1 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
48718 usd
CY2017Q4 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
2000000 hkd
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.125 pure
CY2023Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049 pure
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1034 pure
CY2023Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
32113 usd
CY2022Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
10543 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
89868 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
31629 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
32729 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
123888 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
95186 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
251803 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
24860 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
226943 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
114185 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
112758 usd
us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
usd
CY2022Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
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 To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
usd
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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
CY2023Q4 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Entity Central Index Key
EntityCentralIndexKey
0001094032

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0001213900-24-014097.txt Edgar Link pending
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f10q1223ex31-1_qdminter.htm Edgar Link pending
f10q1223ex31-2_qdminter.htm Edgar Link pending
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qdmi-20231231_pre.xml Edgar Link unprocessable
f10q1223_qdminter_htm.xml Edgar Link completed
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