$VIVC
VIVIC CORP.

2024 Q4 Form 10-K Financial Statement

#000149315224042140 Filed on October 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q2 2024
Revenue $2.575M $5.951M
YoY Change 271.7%
Cost Of Revenue $1.749M $4.152M
YoY Change 199.01%
Gross Profit $825.6K $1.798M
YoY Change 747.41%
Gross Profit Margin 32.06% 30.22%
Selling, General & Admin $384.2K $641.1K
YoY Change 252.14% 62.18%
% of Gross Profit 46.54% 35.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $111.00 $452.00
YoY Change -5.93% -2.16%
% of Gross Profit 0.01% 0.03%
Operating Expenses $384.2K $641.1K
YoY Change 252.14% 62.18%
Operating Profit $441.4K $1.157M
YoY Change -504.54% -731.97%
Interest Expense -$6.410K
YoY Change -235.95%
% of Operating Profit -1.45%
Other Income/Expense, Net -$31.02K -$22.05K
YoY Change -217.66% -61.12%
Pretax Income $410.3K $1.135M
YoY Change -595.96% -573.32%
Income Tax -$14.88K $154.2K
% Of Pretax Income -3.63% 13.58%
Net Earnings $430.0K $2.900M
YoY Change 1285.35% 93.33%
Net Earnings / Revenue 16.7% 48.73%
Basic Earnings Per Share $0.02 $0.11
Diluted Earnings Per Share $0.02 $0.08
COMMON SHARES
Basic Shares Outstanding 27.41M shares 26.66M shares 26.66M shares
Diluted Shares Outstanding 27.49M shares 34.98M shares

Balance Sheet

Concept 2024 Q4 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $310.9K
YoY Change -65.43%
Cash & Equivalents $310.9K
Short-Term Investments
Other Short-Term Assets $343.9K
YoY Change -67.42%
Inventory $3.820K
Prepaid Expenses $250.8K
Receivables $1.402M
Other Receivables $2.803M
Total Short-Term Assets $4.864M
YoY Change 75.08%
LONG-TERM ASSETS
Property, Plant & Equipment $715.00
YoY Change -40.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.685K
YoY Change -99.9%
Total Long-Term Assets $2.685K
YoY Change -53.05%
TOTAL ASSETS
Total Short-Term Assets $4.864M
Total Long-Term Assets $2.685K
Total Assets $4.866M
YoY Change -11.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.046M
YoY Change 2888.14%
Accrued Expenses $166.6K
YoY Change 11882.01%
Deferred Revenue $58.93K
YoY Change -97.5%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.661M
YoY Change -40.53%
LONG-TERM LIABILITIES
Long-Term Debt $611.4K
YoY Change -3.45%
Other Long-Term Liabilities $611.4K
YoY Change -73.53%
Total Long-Term Liabilities $611.4K
YoY Change -3.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.661M
Total Long-Term Liabilities $611.4K
Total Liabilities $2.273M
YoY Change -60.38%
SHAREHOLDERS EQUITY
Retained Earnings -$2.300M
YoY Change -55.0%
Common Stock $26.66K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.593M
YoY Change
Total Liabilities & Shareholders Equity $4.866M
YoY Change -11.56%

Cashflow Statement

Concept 2024 Q4 2024 Q2 2024
OPERATING ACTIVITIES
Net Income $430.0K $2.900M
YoY Change 1285.35% 93.33%
Depreciation, Depletion And Amortization $111.00 $452.00
YoY Change -5.93% -2.16%
Cash From Operating Activities $307.6K -$261.5K
YoY Change -74.64% 25.75%
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 -40.59K -$304.1K
YoY Change -92.95% -218.2%
NET CHANGE
Cash From Operating Activities 307.6K -$261.5K
Cash From Investing Activities
Cash From Financing Activities -40.59K -$304.1K
Net Change In Cash 267.0K -$588.7K
YoY Change -58.15% 53860.4%
FREE CASH FLOW
Cash From Operating Activities $307.6K -$261.5K
Capital Expenditures
Free Cash Flow -$261.5K
YoY Change 25.75%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2024 dei Document Annual Report
DocumentAnnualReport
true
CY2024 dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
CY2024 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2024 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2024 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
98-1353606
CY2024 dei Entity Address Address Line1
EntityAddressAddressLine1
187 E. Warm Springs Rd
CY2024 dei Entity Address Address Line2
EntityAddressAddressLine2
PMB#B450
CY2024 dei Entity Address City Or Town
EntityAddressCityOrTown
Las Vegas
CY2024 dei Entity Address State Or Province
EntityAddressStateOrProvince
NV
CY2024 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
89119
CY2024 dei City Area Code
CityAreaCode
702
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CY2023 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2024 us-gaap Concentration Risk Credit Risk
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<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_zrFZjyYwbQ7f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">● <span id="xdx_860_zmDdjTgJJ4h4">Concentrations and credit risk</span></span></p> <p id="xdx_896_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zjprv0v8O3S1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zZpQqoghYiga" style="display: none">SCHEDULE OF CONCENTRATIONS AND CREDIT RISK</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <span style="background-color: white">Major customers</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Percentage of Revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Years Ended June 30,</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">A</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20240630__srt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zMMn7GD4Gsa3" title="Percentage of revenues">30.2</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220701__20230630__srt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zPzNIVUsQW3e" title="Percentage of revenues"><span style="-sec-ix-hidden: xdx2ixbrl0682">-</span></span>%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">B</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20240630__srt--MajorCustomersAxis__custom--CustomerBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zKyWeefhJUo" title="Percentage of revenues">29.7</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220701__20230630__srt--MajorCustomersAxis__custom--CustomerBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zVGJfco6NTP5" title="Percentage of revenues"><span style="-sec-ix-hidden: xdx2ixbrl0686">-</span></span>%</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">C</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20240630__srt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zfueGs1s7vph" title="Percentage of revenues">25.3</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220701__20230630__srt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zpmaV8O5fA04" title="Percentage of revenues"><span style="-sec-ix-hidden: xdx2ixbrl0690">-</span></span>%</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <span style="background-color: white">Major vendors</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Percentage of Purchase</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Years Ended June 30,</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">A</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20240630__srt--MajorCustomersAxis__custom--VendorAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CreditConcentrationRiskMember_z4SIUiBJszR1" title="Percentage of purchase">59.5</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220701__20230630__srt--MajorCustomersAxis__custom--VendorAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CreditConcentrationRiskMember_zW8Tnyi3ybHg" title="Percentage of purchase"><span style="-sec-ix-hidden: xdx2ixbrl0694">-</span></span>%</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">B</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20240630__srt--MajorCustomersAxis__custom--VendorBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CreditConcentrationRiskMember_zZinwJdbl068" title="Percentage of purchase">11.7</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220701__20230630__srt--MajorCustomersAxis__custom--VendorBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--PurchaseMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CreditConcentrationRiskMember_zUh9S74p3xy8" title="Percentage of purchase"><span style="-sec-ix-hidden: xdx2ixbrl0698">-</span></span>%</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zHm1RDH8Ign9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company’s principal financial instruments subject to potential concentration of credit risk are cash and cash equivalents, including amounts held in money market accounts. The Company places cash deposits with a federally insured financial institution. The Company maintains its cash at banks and financial institutions it considers to be of high credit quality; however, the Company’s domestic cash deposits may at times exceed the insured limit. Balances in excess of insured limitations may not be insured. The Company has not experienced losses on these accounts, and management believes that the Company is not exposed to significant risks on such accounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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VIVIC CORP.
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YCM CPA INC.
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<p id="xdx_84E_eus-gaap--UseOfEstimates_zKvoNJMfW9a5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">● <span id="xdx_860_zmgpyqrfAKH">Use of estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Preparing these consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods reported. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Such estimates may be subject to change as more current information becomes available. Actual results may differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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However, the service buyer (corporate entity) will not be required to pay business tax if it is exclusively engaged in taxable transactions subject to either 5% or 0% VAT.
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CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7386 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5118 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2872 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1970 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4514 usd
CY2024 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2409 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2499 usd
CY2024Q2 VIVC Accrued Penalty Current
AccruedPenaltyCurrent
9400 usd
CY2023Q2 VIVC Accrued Penalty Current
AccruedPenaltyCurrent
60000 usd
CY2024Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
7147 usd
CY2023Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
1385 usd
CY2024Q2 VIVC Accrued Consulting Fee
AccruedConsultingFee
150000 usd
CY2023Q2 VIVC Accrued Consulting Fee
AccruedConsultingFee
90000 usd
CY2024Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
53628 usd
CY2023Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
53581 usd
CY2024Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
220175 usd
CY2023Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
204966 usd
CY2023Q3 VIVC Accrued Penalty
AccruedPenalty
60000 usd
CY2021Q3 VIVC Accrued Penalty
AccruedPenalty
60000 usd
CY2024 us-gaap Exchange Fees
ExchangeFees
50600 usd
CY2023 us-gaap Exchange Fees
ExchangeFees
0 usd
CY2023Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
162391 shares
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
82836 usd
CY2020Q2 us-gaap Loans Payable
LoansPayable
87500 usd
CY2020Q2 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0375 pure
CY2020Q2 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
427 usd
CY2024 VIVC Repayment Of Interest
RepaymentOfInterest
4697 usd
CY2023 VIVC Repayment Of Interest
RepaymentOfInterest
3416 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5124 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5124 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
5124 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
5124 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
5124 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
61880 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
87500 usd
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
26446 usd
CY2023Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
914892 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
26446 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
914892 usd
CY2023Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
123854 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
26446 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
70000000 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
70000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26657921 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26657921 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26657921 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26657921 shares
CY2024 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
980951 usd
CY2023 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-318849 usd
CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
1869563 usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-461477 usd
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26657921 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23136714 shares
CY2024 VIVC Dilutive Impact Of Preferred Stock
DilutiveImpactOfPreferredStock
8320000 shares
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34977921 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23136714 shares
CY2024 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.04
CY2023 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.01
CY2024 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.03
CY2023 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.01
CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.07
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.02
CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.05
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.02

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