$YCQH
YCQH Agricultural Technology Co. Ltd

2023 Q1 Form 10-K Financial Statement

#000149315223009584 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $154.3K $118.4K
YoY Change 1005.1% 12.42%
Cost Of Revenue $33.57K $19.48K
YoY Change 329.35% -65.94%
Gross Profit $120.7K $98.92K
YoY Change 1865.21% 105.49%
Gross Profit Margin 78.24% 83.55%
Selling, General & Admin $50.64K $173.5K
YoY Change -35.83%
% of Gross Profit 41.95% 175.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.71K
YoY Change 10.07%
% of Gross Profit 17.9%
Operating Expenses $50.64K $173.5K
YoY Change -35.83%
Operating Profit $70.08K -$74.55K
YoY Change -372.21% -66.44%
Interest Expense $100.00
YoY Change 66.67%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $70.13K -$74.45K
YoY Change -372.44% -66.48%
Income Tax $238.00
% Of Pretax Income 0.34%
Net Earnings $69.89K -$74.45K
YoY Change -371.52% -66.48%
Net Earnings / Revenue 45.3% -62.88%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 101.4M shares 101.4M shares 101.4M shares
Diluted Shares Outstanding 101.4M shares 101.4M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $232.7K
YoY Change 604.33%
Cash & Equivalents $5.613K $232.7K $232.7K
Short-Term Investments
Other Short-Term Assets $19.75K
YoY Change 528.98%
Inventory $26.30K $59.44K $59.44K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $208.5K $311.9K $311.9K
YoY Change 156.71% 156.71%
LONG-TERM ASSETS
Property, Plant & Equipment $79.39K
YoY Change 420.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $69.85K $79.39K $79.39K
YoY Change 420.86% 420.93%
TOTAL ASSETS
Total Short-Term Assets $208.5K $311.9K $311.9K
Total Long-Term Assets $69.85K $79.39K $79.39K
Total Assets $278.3K $391.3K $391.3K
YoY Change 142.09% 186.15% 186.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $65.67K
YoY Change 64.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $402.5K $575.5K $575.5K
YoY Change 108.85% 108.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $38.87K
YoY Change
Total Long-Term Liabilities $28.60K $38.87K $38.87K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $402.5K $575.5K $575.5K
Total Long-Term Liabilities $28.60K $38.87K $38.87K
Total Liabilities $431.1K $614.4K $614.4K
YoY Change 122.96% 122.95%
SHAREHOLDERS EQUITY
Retained Earnings -$320.1K -$390.0K
YoY Change 23.59%
Common Stock $10.14K $10.14K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$152.7K -$223.1K -$223.1K
YoY Change
Total Liabilities & Shareholders Equity $278.3K $391.3K $391.3K
YoY Change 186.15% 186.16%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $69.89K -$74.45K
YoY Change -371.52% -66.48%
Depreciation, Depletion And Amortization $17.71K
YoY Change 10.07%
Cash From Operating Activities -$256.9K $120.5K
YoY Change 845.73% -174.45%
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 $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $27.94K $84.56K
YoY Change 96.73% -23.05%
NET CHANGE
Cash From Operating Activities -$256.9K $120.5K
Cash From Investing Activities
Cash From Financing Activities $27.94K $84.56K
Net Change In Cash -$227.1K $199.7K
YoY Change 1651.72%
FREE CASH FLOW
Cash From Operating Activities -$256.9K $120.5K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_80F_eus-gaap--BasisOfAccounting_zjkmlljm9FP1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. <span id="xdx_820_zEoqLUTlE0Qe">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements of the Company are prepared pursuant to the rules and regulations of the U.S. Securities and Exchanges Commission (“SEC”) and in conformity with generally accepted accounting principles in the U.S. (“US GAAP”). All material inter-company accounts and transactions have been eliminated in consolidation. The Company has adopted December 31 as its fiscal year end.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zp37cLw1fcH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_867_z3lSMsYHzsU7">Use of estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the consolidated financial statements in conformity with US GAAP requires 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 reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
118868 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-74450 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-389987 usd
CY2022Q4 YCQH Working Capital Deficit
WorkingCapitalDeficit
-263641 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
59444 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
85321 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
59444 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
85321 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
13 usd
CY2021Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
13 usd
CY2022Q4 us-gaap Due From Employees
DueFromEmployees
43 usd
CY2021Q4 us-gaap Due From Employees
DueFromEmployees
617 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
10812 usd
CY2021Q4 us-gaap Prepaid Rent
PrepaidRent
2509 usd
CY2022Q4 YCQH Deposit Current
DepositCurrent
5334 usd
CY2022Q4 YCQH Prepaid Transfer Agent Fee
PrepaidTransferAgentFee
3545 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
19747 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3139 usd
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
69069 usd
CY2021Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
70 usd
CY2022Q4 YCQH Accrued Audit Fees Current
AccruedAuditFeesCurrent
645 usd
CY2021Q4 YCQH Accrued Audit Fees Current
AccruedAuditFeesCurrent
16645 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
24500 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
8100 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
94214 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
24815 usd
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
30699 usd
CY2022Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
321933 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
235517 usd
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101400000 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101400000 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101400000 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101400000 shares
CY2021 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
11400000 shares
CY2021Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.01
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
114000 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
800000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
800000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30699 usd
CY2022 YCQH Operating Lease Right Of Use Asset Recognized
OperatingLeaseRightOfUseAssetRecognized
82685 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
16088 usd
CY2021 YCQH Right Of Use Asset Obtained In Foreign Exchange For Operating Lease
RightOfUseAssetObtainedInForeignExchangeForOperatingLease
632 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15243 usd
CY2022 YCQH Operating Lease Liability Recognized
OperatingLeaseLiabilityRecognized
82685 usd
CY2021 YCQH Lessee Operating Lease Liability Imputed Interest
LesseeOperatingLeaseLiabilityImputedInterest
1064 usd
CY2021 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
17152 usd
CY2021 YCQH Foreign Exchange Translation For Operating Lease Liability
ForeignExchangeTranslationForOperatingLeaseLiability
632 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
15243 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15243 usd
CY2022 YCQH Operating Lease Right Of Use Asset Recognized
OperatingLeaseRightOfUseAssetRecognized
82685 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
17712 usd
CY2022 YCQH Right Of Use Asset Obtained In Foreign Exchange For Operating Lease
RightOfUseAssetObtainedInForeignExchangeForOperatingLease
-822 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
79394 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
15243 usd
CY2022 YCQH Operating Lease Liability Recognized
OperatingLeaseLiabilityRecognized
82685 usd
CY2022 YCQH Lessee Operating Lease Liability Imputed Interest
LesseeOperatingLeaseLiabilityImputedInterest
598 usd
CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
18309 usd
CY2022 YCQH Foreign Exchange Translation For Operating Lease Liability
ForeignExchangeTranslationForOperatingLeaseLiability
-823 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
79394 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
40523 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
38871 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
40523 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
38871 usd
CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
18309 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y11M1D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
19475 usd
CY2021 us-gaap Cost Of Revenue
CostOfRevenue
57178 usd
CY2022 YCQH Effective Income Tax Rate Reconciliation Computed Expected Benefits
EffectiveIncomeTaxRateReconciliationComputedExpectedBenefits
-0.25 pure
CY2021 YCQH Effective Income Tax Rate Reconciliation Computed Expected Benefits
EffectiveIncomeTaxRateReconciliationComputedExpectedBenefits
0.25 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.05 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.03 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.22 pure
CY2022 YCQH Effective Income Tax Rate Reconciliation Temporary Difference Not Recognized Percentage
EffectiveIncomeTaxRateReconciliationTemporaryDifferenceNotRecognizedPercentage
0.01 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2022 YCQH Income Tax Reconciliation Computed Expected Expenses
IncomeTaxReconciliationComputedExpectedExpenses
-18613 usd
CY2021 YCQH Income Tax Reconciliation Computed Expected Expenses
IncomeTaxReconciliationComputedExpectedExpenses
-55527 usd
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
3725 usd
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
7330 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
15799 usd
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
48197 usd
CY2022 YCQH Income Tax Reconciliation Temporary Difference Not Recognized
IncomeTaxReconciliationTemporaryDifferenceNotRecognized
911 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
84047 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
69160 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
84047 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
118396 usd
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
19475 usd
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
173471 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-74550 usd
CY2022Q4 us-gaap Assets
Assets
391291 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
105317 usd
CY2021 us-gaap Cost Of Revenue
CostOfRevenue
57178 usd
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
270307 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-222168 usd
CY2021Q4 us-gaap Assets
Assets
136741 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
118396 usd
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
19475 usd
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
173471 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-74550 usd
CY2022Q4 us-gaap Assets
Assets
391291 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
105317 usd
CY2021 us-gaap Cost Of Revenue
CostOfRevenue
57178 usd
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
270307 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-222168 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-222168 usd
CY2021Q4 us-gaap Assets
Assets
136741 usd

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