$SSHT
SSHT S&T Group Ltd.

2024 Q3 Form 10-Q Financial Statement

#000182912624007525 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024 Q1
Revenue $74.28K
YoY Change 75.41%
Cost Of Revenue
YoY Change
Gross Profit $74.28K
YoY Change 75.41%
Gross Profit Margin 100.0%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $35.47K
YoY Change -36.18%
Operating Profit $38.81K
YoY Change -393.49%
Interest Expense -$11.00
YoY Change
% of Operating Profit -0.03%
Other Income/Expense, Net
YoY Change
Pretax Income $38.72K
YoY Change -392.77%
Income Tax
% Of Pretax Income
Net Earnings $38.72K $25.28K -$6.285K
YoY Change -392.77% -197.56% -72.18%
Net Earnings / Revenue 52.12%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 109.9M shares
Diluted Shares Outstanding 109.9M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $8.205K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $49.93K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $49.93K
Total Long-Term Assets $0.00
Total Assets $49.93K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.275K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $122.0K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $122.0K
Total Long-Term Liabilities
Total Liabilities $122.0K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$2.550M
YoY Change
Common Stock $109.9K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$72.05K -$111.3K -$54.26K
YoY Change
Total Liabilities & Shareholders Equity $49.93K
YoY Change

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $38.72K $25.28K -$6.285K
YoY Change -392.77% -197.56% -72.18%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Central Index Key
EntityCentralIndexKey
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dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-09-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
333-271831
dei Entity Registrant Name
EntityRegistrantName
SSHT S&T GROUP LTD
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
93-0734888
dei Entity Address Address Line1
EntityAddressAddressLine1
46 Reeves Road
dei Entity Address Address Line2
EntityAddressAddressLine2
Pakuranga
dei Entity Address City Or Town
EntityAddressCityOrTown
Auckland
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
2010
dei Entity Address Country
EntityAddressCountry
NZ
dei City Area Code
CityAreaCode
61
dei Local Phone Number
LocalPhoneNumber
405223877
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
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dei Entity Ex Transition Period
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dei Entity Shell Company
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CY2024Q3 SSHT Due From Related Companies Note4
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CY2024Q3 SSHT Amounts Due To Related Party
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CY2024Q3 us-gaap Other Liabilities Current
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us-gaap Revenues
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us-gaap Revenues
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us-gaap Gross Profit
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us-gaap Gross Profit
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us-gaap General And Administrative Expense
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2024Q3 us-gaap Interest Expense
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us-gaap Interest Expense
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CY2024Q3 SSHT Bank Charge
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SSHT Bank Charge
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CY2024Q3 us-gaap Other Operating Income Expense Net
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us-gaap Other Operating Income Expense Net
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CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2023Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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CY2024Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2023Q3 SSHT Related Party Loan Waiver
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CY2024Q1 SSHT Related Party Loan Waiver
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CY2024Q2 SSHT Related Party Loan Waiver
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Nature Of Operations
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<p id="xdx_807_eus-gaap--NatureOfOperations_zGFo6jKSmgM4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 1 – <span id="xdx_829_zfyJxDu9OHbh">Organization and basis of accounting</span>.</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Business Description</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">SSHT S&amp;T Group Ltd. (the “Company”) was incorporated on March 7, 1984, under the laws of the State of Oregon as Gold Genie Worldwide, Inc. On June 13,1988 the Company filed an amendment to its Articles of Incorporation and changed its name to Products, Services &amp; Technology Corporation. On June 2, 1997, the Company redomiciled to Utah and changed its name to Wireless Data Solutions, Inc. on June 13, 1997. In August of 2007, the Company redomiciled to Nevada, where its registration remains active and in good standing. In December of 2021, the Company changed its name to SSHT S&amp;T Group Ltd. Zonghan Wu is the sole officer and director as well as majority shareholder of the Company. Zonghan Wu is also the sole officer and director of SSHT International Holdings Ltd.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 5, 2022, the Company entered into an agreement with Wahoo Holdings Ltd., a British Virgin Islands corporation (“WHL”), whereunder the Company acquired <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_c20221208__srt--OwnershipAxis__custom--WahooHoldingsMember_pdd" title="Ownership percentage">100%</span> ownership interest in WHL for the issuance of <span id="xdx_900_eus-gaap--NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1_c20221201__20221208__srt--OwnershipAxis__custom--WahooHoldingsMember_pdd" title="Number of shares acquired">10,000,000</span> shares of the Company’s common stock. WHL through its China based subsidiary, Shanghai Jieshi Management Consulting Co., Ltd. provides business consulting services and using a team of accounting and finance professionals offers its clients capital market research, back-office support, financial accounting, listing support and support for mergers and acquisitions. The transaction closed effective December 08, 2022 and has been treated as a business combination under common control.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Basis of Presentation and Organization</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This summary of significant accounting policies of the Company is presented to assist in understanding the Company’s financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the accompanying financial statements. While the Company has commenced generating revenues from its principal business purpose during the most recently completed quarter ended September 30, 2024, we remain in the development stage in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic No. 915 (SFAS No. 7). The Company has elected a fiscal year end of December 31.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying financial statements are prepared on the basis of accounting principles generally accepted in the United States of America (“GAAP”). The accompanying financial statements have been prepared assuming the continuation of the Company as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s ability to continue as a going concern is dependent upon its ability to obtain additional financing and to generate revenue and cash flow to meet its obligations on a timely basis. The Company expects to finance its operations primarily through cash flow from revenue and continuing financial support from a shareholder. In the event that we require additional funding to finance the growth of the Company’s current and expected future operations as well as to achieve our strategic objectives, the shareholder has indicated the intent and ability to provide additional financing. The Company will focus on the following activities: (1) improve operational efficiency, and enhance marketing function; (2) seek to raise additional funding through debt or equity financing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on cash flows projection from operating and financing activities and existing balance of cash and cash equivalents, management concludes that the Company has sufficient funds for sustainable operations and it will be able to meet its payment obligations from operations and debt related commitments for the next twelve months from the issuance of the consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on the above considerations, the accompanying financial statements have been prepared in accordance with U.S. GAAP, on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of asset and amounts and classification of liabilities that may be necessary should the Company be unable to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zPl69Tst5OG9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86C_z6gGOnYIYxx4">Use of Estimates</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates. The Company bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"> </p>
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2024Q3 SSHT Due From Related Companies
DueFromRelatedCompanies
41724 usd
CY2023Q4 SSHT Due From Related Companies
DueFromRelatedCompanies
8920 usd
CY2024Q3 SSHT Amounts Due To Related Party
AmountsDueToRelatedParty
84491 usd
CY2023Q4 SSHT Amounts Due To Related Party
AmountsDueToRelatedParty
130094 usd
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
All shares have equal voting rights, are non-assessable, and have one vote per share.
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
109903473 shares
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
109903473 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
109903473 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
109903473 shares
CY2024Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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