$YCQH
YCQH Agricultural Technology Co. Ltd

2024 Q2 Form 10-Q Financial Statement

#000149315224020600 Filed on May 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $2.539K $289.9K $154.3K
YoY Change 51.4% 87.87% 1005.1%
Cost Of Revenue $220.00 $64.90K $33.57K
YoY Change 49.66% 93.31% 329.35%
Gross Profit $2.319K $225.0K $120.7K
YoY Change 51.57% 86.35% 1865.21%
Gross Profit Margin 91.34% 77.61% 78.24%
Selling, General & Admin $80.32K $69.43K $50.64K
YoY Change 37.1%
% of Gross Profit 3463.65% 30.86% 41.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $80.32K $69.43K $50.64K
YoY Change 37.1%
Operating Profit -$78.00K $155.5K $70.08K
YoY Change -18.14% 121.94% -372.21%
Interest Expense $70.00
YoY Change
% of Operating Profit 0.05%
Other Income/Expense, Net $1.379K
YoY Change
Pretax Income -$76.61K $155.6K $70.13K
YoY Change -19.59% 121.88% -372.44%
Income Tax $8.154K $238.00
% Of Pretax Income 0.34%
Net Earnings -$84.76K $155.6K $69.89K
YoY Change -11.04% 122.63% -371.52%
Net Earnings / Revenue -3338.44% 53.68% 45.3%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $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 101.4M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $131.4K
YoY Change
Cash & Equivalents $1.481K $131.4K $5.613K
Short-Term Investments
Other Short-Term Assets $177.9K
YoY Change
Inventory $105.1K $120.8K $26.30K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $316.2K $430.1K $208.5K
YoY Change 12.53% 106.3%
LONG-TERM ASSETS
Property, Plant & Equipment $27.65K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $27.65K $69.85K
YoY Change -60.42%
TOTAL ASSETS
Total Short-Term Assets $316.2K $430.1K $208.5K
Total Long-Term Assets $27.65K $69.85K
Total Assets $316.2K $457.8K $278.3K
YoY Change -8.09% 64.46% 142.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.57K
YoY Change
Accrued Expenses $65.63K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $469.5K $510.4K $402.5K
YoY Change -19.55% 26.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $13.64K
YoY Change
Total Long-Term Liabilities $13.64K $28.60K
YoY Change -52.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $469.5K $510.4K $402.5K
Total Long-Term Liabilities $13.64K $28.60K
Total Liabilities $469.5K $524.0K $431.1K
YoY Change -21.83% 21.56%
SHAREHOLDERS EQUITY
Retained Earnings -$309.2K -$224.4K -$320.1K
YoY Change -25.57% -29.9%
Common Stock $10.14K $10.14K $10.14K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$153.4K -$66.23K -$152.7K
YoY Change
Total Liabilities & Shareholders Equity $316.2K $457.8K $278.3K
YoY Change -8.09% 64.46%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$84.76K $155.6K $69.89K
YoY Change -11.04% 122.63% -371.52%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $119.0K -$256.9K
YoY Change -146.33% 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 -$83.19K $27.94K
YoY Change -397.76% 96.73%
NET CHANGE
Cash From Operating Activities $119.0K -$256.9K
Cash From Investing Activities
Cash From Financing Activities -$83.19K $27.94K
Net Change In Cash $35.42K -$227.1K
YoY Change -115.6% 1651.72%
FREE CASH FLOW
Cash From Operating Activities $119.0K -$256.9K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_80F_eus-gaap--BasisOfAccounting_zQibHVm7YUE8" 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_82A_zpeY2pTiNrUd">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 condensed 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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<p id="xdx_843_eus-gaap--RevenueRecognitionDeferredRevenue_zMy1SMVtyNz2" 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_860_z7jO2V0xhbBc">Deferred revenue</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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s accounting policy related to deferred revenue is to recognize revenue for performance obligations that have not yet been fulfilled. As of March 31, 2024 and 2023, the Company recognized amounts of $<span id="xdx_909_eus-gaap--DeferredRevenue_iI_c20241231_zKktzJhX9Uhf" title="Deferred revenue">3,208</span> and $<span id="xdx_90E_eus-gaap--DeferredRevenue_iI_c20231231_zVrfEsOYuir4" title="Deferred revenue">14,782</span> </span>respectively. The deferred revenue is expected to be recognized as revenue within 12 months from the reporting period, as all unsatisfied performance obligations are expected to be completed within that timeframe.</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"></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>
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