$YCQH
YCQH Agricultural Technology Co. Ltd

2024 Q3 Form 10-Q Financial Statement

#000149315224033708 Filed on August 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $2.539K $1.677K
YoY Change 51.4% -84.56%
Cost Of Revenue $220.00 $147.00
YoY Change 49.66% -97.71%
Gross Profit $2.319K $1.530K
YoY Change 51.57% -65.51%
Gross Profit Margin 91.34% 91.23%
Selling, General & Admin $80.32K
YoY Change
% of Gross Profit 3463.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.00
YoY Change
% of Gross Profit 0.39%
Operating Expenses $80.32K
YoY Change
Operating Profit -$25.22K -$78.00K -$95.29K
YoY Change -61.93% -18.14% 164.15%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.379K
YoY Change
Pretax Income -$25.22K -$76.61K -$95.28K
YoY Change -59.93% -19.59% 164.14%
Income Tax $8.154K
% Of Pretax Income
Net Earnings -$25.22K -$84.76K -$95.28K
YoY Change -59.93% -11.04% 164.14%
Net Earnings / Revenue -3338.44% -5681.4%
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 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.420K $1.481K $44.86K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $108.8K $105.1K $25.10K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $323.2K $316.2K $281.0K
YoY Change 49.84% 12.53% 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
YoY Change 877.05%
TOTAL ASSETS
Total Short-Term Assets $323.2K $316.2K $281.0K
Total Long-Term Assets $63.04K
Total Assets $323.2K $316.2K $344.0K
YoY Change 23.17% -8.09% 242.66%
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 $493.1K $469.5K $583.6K
YoY Change -14.38% -19.55% 90.64%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $17.03K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $493.1K $469.5K $583.6K
Total Long-Term Liabilities $17.03K
Total Liabilities $493.1K $469.5K $600.7K
YoY Change -15.38% -21.83% 96.2%
SHAREHOLDERS EQUITY
Retained Earnings -$334.4K -$309.2K -$415.4K
YoY Change -30.09% -25.57% 10.08%
Common Stock $10.14K $10.14K $10.14K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$169.9K -$153.4K -$256.7K
YoY Change
Total Liabilities & Shareholders Equity $323.2K $316.2K $344.0K
YoY Change 23.17% -8.09% 242.66%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$25.22K -$84.76K -$95.28K
YoY Change -59.93% -11.04% 164.14%
Depreciation, Depletion And Amortization $6.00
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

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dei Entity File Number
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dei Entity Registrant Name
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YCQH AGRICULTURAL TECHNOLOGY CO. LTD
dei Entity Incorporation State Country Code
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NV
dei Entity Tax Identification Number
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Annex 5, No.188
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Beizhan East Road
dei Entity Address City Or Town
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Shapingba District, Chongqing
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dei City Area Code
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<p id="xdx_803_eus-gaap--BasisOfAccounting_zS9vBMq89U4" 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"><b>2. <span id="xdx_82D_zyawto1fiJZ1">BASIS OF PRESENTATION</span></b></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">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 0pt 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_84E_eus-gaap--UseOfEstimates_zgd8x0j9CCik" 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 style="text-decoration: underline"><span id="xdx_86C_zIaOh3JfXIB8">Use of estimates</span></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; 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 0pt 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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us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p id="xdx_843_eus-gaap--RevenueRecognitionDeferredRevenue_zhlYnnN2LWkk" 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 style="text-decoration: underline"><span id="xdx_865_zRyZFmIiRuU9">Deferred revenue</span></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">The Company’s accounting policy related to deferred revenue is to recognize revenue for performance obligations that have not yet been fulfilled. As of June 30, 2024 and December 31, 2023, the Company recognized amounts of $<span id="xdx_904_eus-gaap--DeferredRevenue_iI_c20240630_z2bXqyw5I2d3" title="Deferred revenue">159</span> and $<span id="xdx_908_eus-gaap--DeferredRevenue_iI_c20231231_zMggX9l9PPak" title="Deferred revenue">14,782</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.</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>
CY2024Q2 us-gaap Deferred Revenue
DeferredRevenue
159 usd
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
14782 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-48391 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-309154 usd
CY2024Q2 YCQH Working Capital Deficit
WorkingCapitalDeficit
-153369 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
105138 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
113688 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
105138 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
113688 usd
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2024Q2 us-gaap Deposits Assets Current
DepositsAssetsCurrent
13 usd
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
13 usd
CY2024Q2 us-gaap Prepaid Advertising
PrepaidAdvertising
101268 usd
CY2023Q4 us-gaap Prepaid Advertising
PrepaidAdvertising
9810 usd
CY2024Q2 us-gaap Prepaid Rent
PrepaidRent
1512 usd
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
13498 usd
CY2024Q2 us-gaap Supplies
Supplies
101454 usd
CY2023Q4 us-gaap Supplies
Supplies
107581 usd
CY2024Q2 YCQH Prepaid Transfer Agent Fee
PrepaidTransferAgentFee
5300 usd
CY2023Q4 YCQH Prepaid Transfer Agent Fee
PrepaidTransferAgentFee
1845 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
209547 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
132747 usd
CY2024Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
1669 usd
CY2023Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
3047 usd
CY2024Q2 YCQH Accrued Audit Fees Current
AccruedAuditFeesCurrent
10300 usd
CY2023Q4 YCQH Accrued Audit Fees Current
AccruedAuditFeesCurrent
28550 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
645 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
11969 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
32242 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
455160 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
501890 usd
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101400000 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101400000 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101400000 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101400000 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
800000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
800000000 shares
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
79394 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
36159 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
43235 usd
CY2023Q4 YCQH Operating Lease Rightofuse Assets Reassessment Of Lease
OperatingLeaseRightofuseAssetsReassessmentOfLease
3150 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
3109 usd
CY2023Q4 YCQH Operating Lease Rightofuse Assets Foreign Exchange Translation
OperatingLeaseRightofuseAssetsForeignExchangeTranslation
-2022 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
34954 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
79394 usd
YCQH Operating Lease Liability Imputed Interest
OperatingLeaseLiabilityImputedInterest
2509 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
38668 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
43235 usd
CY2023Q4 YCQH Operating Lease Liability Reassessment Of Lease
OperatingLeaseLiabilityReassessmentOfLease
3150 usd
CY2023Q4 YCQH Operating Lease Liability Imputed Interest
OperatingLeaseLiabilityImputedInterest
138 usd
CY2023Q4 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
3247 usd
CY2023Q4 YCQH Operating Lease Liability Foreign Exchange Translation
OperatingLeaseLiabilityForeignExchangeTranslation
2022 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
34954 usd
YCQH Effective Income Tax Rate Reconciliation Computed Expected Benefits
EffectiveIncomeTaxRateReconciliationComputedExpectedBenefits
0.25 pure
YCQH Effective Income Tax Rate Reconciliation Computed Expected Benefits
EffectiveIncomeTaxRateReconciliationComputedExpectedBenefits
0.25 pure
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.01 pure
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.04 pure
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.30 pure
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.61 pure
YCQH Effective Income Tax Rate Reconciliation Temporary Difference Not Recognized Percentage
EffectiveIncomeTaxRateReconciliationTemporaryDifferenceNotRecognizedPercentage
0.46 pure
YCQH Effective Income Tax Rate Reconciliation Temporary Difference Not Recognized Percentage
EffectiveIncomeTaxRateReconciliationTemporaryDifferenceNotRecognizedPercentage
0.39 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.10 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.01 pure
YCQH Effective Income Tax Rate Reconciliation At Prc Statutory Tax Rate
EffectiveIncomeTaxRateReconciliationAtPRCStatutoryTaxRate
0.25 pure
YCQH Effective Income Tax Rate Reconciliation At Prc Statutory Tax Rate
EffectiveIncomeTaxRateReconciliationAtPRCStatutoryTaxRate
0.25 pure
YCQH Income Tax Reconciliation Computed Expected Expenses
IncomeTaxReconciliationComputedExpectedExpenses
17852 usd
YCQH Income Tax Reconciliation Computed Expected Expenses
IncomeTaxReconciliationComputedExpectedExpenses
-6346 usd
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
946 usd
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1020 usd
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
24040 usd
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
15492 usd
YCQH Income Tax Reconciliation Temporary Difference Not Recognized
IncomeTaxReconciliationTemporaryDifferenceNotRecognized
34684 usd
YCQH Income Tax Reconciliation Temporary Difference Not Recognized
IncomeTaxReconciliationTemporaryDifferenceNotRecognized
9928 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8154 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
238 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
109627 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
98525 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
109627 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
292405 usd
us-gaap Cost Of Revenue
CostOfRevenue
65117 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
51058 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
98694 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
77536 usd
CY2024Q2 us-gaap Assets
Assets
316166 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155971 usd
us-gaap Cost Of Revenue
CostOfRevenue
33717 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
495 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
146968 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-25209 usd
CY2023Q2 us-gaap Assets
Assets
344005 usd
CY2023Q2 YCQH Capital Expenditure
CapitalExpenditure
6614 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
292405 usd
us-gaap Cost Of Revenue
CostOfRevenue
65117 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
51058 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
98694 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
77536 usd
CY2024Q2 us-gaap Assets
Assets
316166 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
155971 usd
us-gaap Cost Of Revenue
CostOfRevenue
33717 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
495 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
146968 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-25209 usd
CY2023Q2 us-gaap Assets
Assets
344005 usd
CY2023Q2 YCQH Capital Expenditure
CapitalExpenditure
6614 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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