$YCQH
YCQH Agricultural Technology Co. Ltd

2023 Q2 Form 10-Q Financial Statement

#000149315223017046 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $1.677K $154.3K $13.96K
YoY Change -84.56% 1005.1%
Cost Of Revenue $147.00 $33.57K $7.819K
YoY Change -97.71% 329.35%
Gross Profit $1.530K $120.7K $6.143K
YoY Change -65.51% 1865.21%
Gross Profit Margin 91.23% 78.24% 44.0%
Selling, General & Admin $50.64K
YoY Change
% of Gross Profit 41.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.00
YoY Change
% of Gross Profit 0.39%
Operating Expenses $50.64K
YoY Change
Operating Profit -$95.29K $70.08K -$25.75K
YoY Change 164.15% -372.21%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$95.28K $70.13K -$25.74K
YoY Change 164.14% -372.44%
Income Tax $238.00
% Of Pretax Income 0.34%
Net Earnings -$95.28K $69.89K -$25.74K
YoY Change 164.14% -371.52% -4.46%
Net Earnings / Revenue -5681.4% 45.3% -184.37%
Basic Earnings Per Share $0.00 $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 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $44.86K $5.613K $20.07K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $25.10K $26.30K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $281.0K $208.5K
YoY Change 199.09%
LONG-TERM ASSETS
Property, Plant & Equipment $353.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $63.04K $69.85K
YoY Change 877.05%
TOTAL ASSETS
Total Short-Term Assets $281.0K $208.5K
Total Long-Term Assets $63.04K $69.85K
Total Assets $344.0K $278.3K $115.0K
YoY Change 242.66% 142.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
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 $583.6K $402.5K
YoY Change 90.64%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $17.03K $28.60K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $583.6K $402.5K
Total Long-Term Liabilities $17.03K $28.60K
Total Liabilities $600.7K $431.1K
YoY Change 96.2%
SHAREHOLDERS EQUITY
Retained Earnings -$415.4K -$320.1K
YoY Change 10.08%
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 -$256.7K -$152.7K -$164.3K
YoY Change
Total Liabilities & Shareholders Equity $344.0K $278.3K
YoY Change 242.66%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$95.28K $69.89K -$25.74K
YoY Change 164.14% -371.52% -4.46%
Depreciation, Depletion And Amortization $6.00
YoY Change
Cash From Operating Activities -$256.9K -$27.16K
YoY Change 845.73%
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 $27.94K $14.20K
YoY Change 96.73%
NET CHANGE
Cash From Operating Activities -$256.9K -$27.16K
Cash From Investing Activities
Cash From Financing Activities $27.94K $14.20K
Net Change In Cash -$227.1K -$12.96K
YoY Change 1651.72%
FREE CASH FLOW
Cash From Operating Activities -$256.9K -$27.16K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p id="xdx_80F_eus-gaap--BasisOfAccounting_zGJTE4N4dQH1" 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>2. <span id="xdx_82F_zsOsQkUwoiV2">BASIS OF PRESENTATION</span></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"> </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 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 on 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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<p id="xdx_849_eus-gaap--UseOfEstimates_zV4nHZ7UggXj" 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 style="text-decoration: underline"><span id="xdx_86B_zVXqYTL04F94">Use of estimates</span></span></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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the condensed 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 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2023Q1 YCQH Working Capital Deficit
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-193983 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
26300 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
59444 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
26300 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
59444 usd
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2023Q1 us-gaap Deposits Assets Current
DepositsAssetsCurrent
13 usd
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
13 usd
CY2023Q1 us-gaap Other Receivables
OtherReceivables
43775 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
43 usd
CY2023Q1 us-gaap Prepaid Rent
PrepaidRent
10875 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
10812 usd
CY2023Q1 YCQH Deposit Current
DepositCurrent
116466 usd
CY2022Q4 YCQH Deposit Current
DepositCurrent
5334 usd
CY2023Q1 YCQH Prepaid Transfer Agent Fee
PrepaidTransferAgentFee
5445 usd
CY2022Q4 YCQH Prepaid Transfer Agent Fee
PrepaidTransferAgentFee
3545 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
176574 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
19747 usd
CY2023Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
1306 usd
CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
69069 usd
CY2023Q1 YCQH Accrued Audit Fees Current
AccruedAuditFeesCurrent
4645 usd
CY2022Q4 YCQH Accrued Audit Fees Current
AccruedAuditFeesCurrent
645 usd
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
5400 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
24500 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
11351 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
94214 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
349873 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
321933 usd
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101400000 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101400000 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101400000 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101400000 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
800000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
800000000 shares
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
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 Right Of Use Asset
OperatingLeaseRightOfUseAsset
79394 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
3318 usd
CY2023Q1 YCQH Right Of Use Asset Obtained In Foreign Exchange For Operating Lease
RightOfUseAssetObtainedInForeignExchangeForOperatingLease
-6227 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
69849 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
79394 usd
CY2023Q1 YCQH Lessee Operating Lease Liability Imputed Interest
LesseeOperatingLeaseLiabilityImputedInterest
868 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
10901 usd
CY2023Q1 YCQH Foreign Exchange Translation For Operating Lease Liability
ForeignExchangeTranslationForOperatingLeaseLiability
488 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
69849 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
41246 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28603 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
30750 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
39099 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
10901 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M1D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
33571 usd
CY2022Q1 us-gaap Cost Of Revenue
CostOfRevenue
7819 usd
CY2023Q1 YCQH Effective Income Tax Rate Reconciliation Computed Expected Benefits
EffectiveIncomeTaxRateReconciliationComputedExpectedBenefits
0.25 pure
CY2022Q1 YCQH Effective Income Tax Rate Reconciliation Computed Expected Benefits
EffectiveIncomeTaxRateReconciliationComputedExpectedBenefits
-0.25 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.01 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.02 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.03 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.23 pure
CY2023Q1 YCQH Effective Income Tax Rate Reconciliation Temporary Difference Not Recognized Percentage
EffectiveIncomeTaxRateReconciliationTemporaryDifferenceNotRecognizedPercentage
0.29 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2023Q1 YCQH Income Tax Reconciliation Computed Expected Expenses
IncomeTaxReconciliationComputedExpectedExpenses
17474 usd
CY2022Q1 YCQH Income Tax Reconciliation Computed Expected Expenses
IncomeTaxReconciliationComputedExpectedExpenses
-6436 usd
CY2023Q1 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
473 usd
CY2022Q1 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
507 usd
CY2023Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
2374 usd
CY2022Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
5929 usd
CY2023Q1 YCQH Income Tax Reconciliation Temporary Difference Not Recognized
IncomeTaxReconciliationTemporaryDifferenceNotRecognized
20083 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
238 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
66160 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
84047 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
66160 usd
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 integer
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
154294 usd
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
33571 usd
CY2023Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
495 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
50147 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
70081 usd
CY2023Q1 us-gaap Assets
Assets
278336 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13962 usd
CY2022Q1 us-gaap Cost Of Revenue
CostOfRevenue
7819 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
31888 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-25745 usd
CY2022Q1 us-gaap Assets
Assets
114971 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
154294 usd
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
33571 usd
CY2023Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
495 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
50147 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
70081 usd
CY2023Q1 us-gaap Assets
Assets
278336 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13962 usd
CY2022Q1 us-gaap Cost Of Revenue
CostOfRevenue
7819 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
31888 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-25745 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-25745 usd
CY2022Q1 us-gaap Assets
Assets
114971 usd

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0001493152-23-017046.txt Edgar Link pending
0001493152-23-017046-xbrl.zip Edgar Link pending
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form10-q_htm.xml Edgar Link completed
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ycqh-20230331_cal.xml Edgar Link unprocessable
ycqh-20230331_def.xml Edgar Link unprocessable
ycqh-20230331_lab.xml Edgar Link unprocessable
ycqh-20230331_pre.xml Edgar Link unprocessable