2023 Q1 Form 10-Q Financial Statement

#000149315223016172 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q1
Revenue $2.480M $2.536M $2.036M
YoY Change 21.76% 21.49% 66.29%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.087M $3.533M $2.409M
YoY Change -54.89% -2.49% 90.69%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $128.3K $103.1K $385.1K
YoY Change -66.69% 132.42% 1121.83%
% of Gross Profit
Operating Expenses $1.199M $3.636M $2.795M
YoY Change -57.1% -0.85% 115.83%
Operating Profit -$1.083M -$758.2K
YoY Change 42.89%
Interest Expense $61.14K -$26.42K -$23.61K
YoY Change -358.95% 226.98% 69.73%
% of Operating Profit
Other Income/Expense, Net -$61.14K $12.21K $2.100K
YoY Change -3011.29% 719.46%
Pretax Income -$1.144M -$1.115M -$393.8K
YoY Change 190.63% -29.76% 368.18%
Income Tax $6.580K $0.00
% Of Pretax Income
Net Earnings -$1.144M -$1.121M -$393.8K
YoY Change 190.63% -29.38% 370.42%
Net Earnings / Revenue -46.16% -44.21% -19.34%
Basic Earnings Per Share -$0.10 -$0.04
Diluted Earnings Per Share -$0.10 -$0.09 -$30.43K
COMMON SHARES
Basic Shares Outstanding 11.94M shares 9.451M shares
Diluted Shares Outstanding 1.136M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.214M $6.509M $582.7K
YoY Change 623.18% 498.76%
Cash & Equivalents $4.214M $6.509M $582.7K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $54.56K $60.90K $35.45K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $4.269M $6.570M $618.2K
YoY Change 590.55% 484.69%
LONG-TERM ASSETS
Property, Plant & Equipment $3.969M $3.158M $4.858M
YoY Change -18.29% -30.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.017M $308.4K $173.8K
YoY Change 485.35% 95.22%
Total Long-Term Assets $10.83M $9.448M $5.032M
YoY Change 115.19% 100.53%
TOTAL ASSETS
Total Short-Term Assets $4.269M $6.570M $618.2K
Total Long-Term Assets $10.83M $9.448M $5.032M
Total Assets $15.10M $16.02M $5.650M
YoY Change 167.2% 174.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $740.0K $744.1K $1.444M
YoY Change -48.76% -53.45%
Accrued Expenses $518.6K $458.8K $310.4K
YoY Change 67.04% 113.41%
Deferred Revenue
YoY Change
Short-Term Debt $800.0K $300.0K $0.00
YoY Change
Long-Term Debt Due $281.6K $305.6K $269.1K
YoY Change 4.63% -15.14%
Total Short-Term Liabilities $2.427M $1.987M $3.629M
YoY Change -33.11% -45.48%
LONG-TERM LIABILITIES
Long-Term Debt $1.367M $1.430M $1.418M
YoY Change -3.61% -16.51%
Other Long-Term Liabilities $6.808M $6.962M $3.255M
YoY Change 109.16% 149.08%
Total Long-Term Liabilities $8.175M $8.393M $4.673M
YoY Change 74.93% 86.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.427M $1.987M $3.629M
Total Long-Term Liabilities $8.175M $8.393M $4.673M
Total Liabilities $10.60M $10.38M $8.302M
YoY Change 27.71% 27.3%
SHAREHOLDERS EQUITY
Retained Earnings -$7.445M -$6.300M
YoY Change 123.97%
Common Stock $11.94M $11.94M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.493M $5.638M -$2.652M
YoY Change
Total Liabilities & Shareholders Equity $15.10M $16.02M $5.650M
YoY Change 167.2% 174.5%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.144M -$1.121M -$393.8K
YoY Change 190.63% -29.38% 370.42%
Depreciation, Depletion And Amortization $128.3K $103.1K $385.1K
YoY Change -66.69% 132.42% 1121.83%
Cash From Operating Activities -$1.769M -$466.2K -$375.5K
YoY Change 371.1% 17.33% 29.47%
INVESTING ACTIVITIES
Capital Expenditures $939.0K $1.016M -$188.8K
YoY Change -597.26% -1331.93%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$939.0K -$1.016M -$188.8K
YoY Change 397.26% 1131.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $60.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $412.8K 346.4K 59.90K
YoY Change 589.12% -77.11% -79.34%
NET CHANGE
Cash From Operating Activities -$1.769M -466.2K -375.5K
Cash From Investing Activities -$939.0K -1.016M -188.8K
Cash From Financing Activities $412.8K 346.4K 59.90K
Net Change In Cash -$2.295M -1.136M -504.4K
YoY Change 355.01% -209.85%
FREE CASH FLOW
Cash From Operating Activities -$1.769M -$466.2K -$375.5K
Capital Expenditures $939.0K $1.016M -$188.8K
Free Cash Flow -$2.708M -$1.482M -$186.6K
YoY Change 1350.88% 370.7% -35.64%

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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1087102 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4214120 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
582716 usd
CY2022Q1 YOSH Forgiveness Of Paycheck Protection Program Loan
ForgivenessOfPaycheckProtectionProgramLoan
385900 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
61137 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
23607 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_806_eus-gaap--NatureOfOperations_zRZCHHWH7JIi" 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"><b>1.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_828_zdkU85LLu6x1">NATURE OF OPERATIONS</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_ecustom--ScheduleOfWhollyOwnedSubsidiariesTableTextBlock_zEuwJvI5M0bg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yoshiharu Global Co. (“Yoshiharu”) was incorporated in the State of Delaware on December 9, 2021. Yoshiharu did not have significant transactions since formation. Yoshiharu has the following wholly owned subsidiaries:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_zjnCanr3E108" style="display: none">SCHEDULE OF WHOLLY OWNED SUBSIDIARIES</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 32%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 32%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date of Formation</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 32%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description of Business</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalJJGroupIncMember_zmJG336ncO6d" title="Name of subsidiary">Global JJ Group, Inc. (“JJ”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalJJGroupIncMember_zrAyZGb2UCTi" title="Date of formation">January 8, 2015</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalJJGroupIncMember_zTZYXZDOFn09" title="Description of business">Ramen stores located in Orange, California and Buena Park, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalAAGroupIncMember_zze4eatmSAMd" title="Name of subsidiary">Global AA Group, Inc. (“AA”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalAAGroupIncMember_zGV6CQYAlvNl" title="Date of formation">July 21, 2016</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalAAGroupIncMember_zYHaBzYOQF0a" title="Description of business">Ramen store located in Whittier, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalBBGroupIncMember_zpkBx9hr1vx3" title="Name of subsidiary">Global BB Group, Inc. (“BB”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalBBGroupIncMember_z0LNgJwYq4z4" title="Date of formation">May 19, 2017</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalBBGroupIncMember_ze14slQM3EC8" title="Description of business">Ramen store located in Chino Hills, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalCCGroupIncMember_z6GX4NO30u6k" title="Name of subsidiary">Global CC Group, Inc. (“CC”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalCCGroupIncMember_zyNHi2BoUO77" title="Date of formation">September 23, 2019</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalCCGroupIncMember_zYPQEraTNzWj" title="Description of business">Ramen stores located in Eastvale, California and Corona, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalDDGroupIncMember_zw4IOaHr6iGk" title="Name of subsidiary">Global DD Group, Inc. (“DD”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalDDGroupIncMember_zoSF9jtGT7S4" title="Date of formation">December 19, 2019</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--GlobalDDGroupIncMember_z4H5oGpjunV1" title="Description of business">Ramen store located in la Mirada, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuIrvineMember_zqPFjrpU85sb" title="Name of subsidiary">Yoshiharu Irvine (“YI”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuIrvineMember_zTMWu1JbCngb" title="Date of formation">December 4, 2020</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuIrvineMember_z3WUkiuBRPNj" title="Description of business">Ramen store located in Irvine, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuCerritosMember_zD3wz4Z4Llrf" title="Name of subsidiary">Yoshiharu Cerritos (“YC”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuCerritosMember_zIvQKtEqODbe" title="Date of formation">January 21, 2021</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuCerritosMember_z5fDWhMPp6X3" title="Description of business">Ramen store located in Cerritos, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuClementsMember_zi6v0PYopLN8" title="Name of subsidiary">Yoshiharu Clemente (“YCT”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuClementsMember_zgh3w3CF6ru9" title="Date of formation">May 2, 2022</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuClementsMember_zf70RVmT9K5i" title="Description of business">Ramen store to be opened in San Clemente, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuLagunaMember_z89eDzvvQyV9" title="Name of subsidiary">Yoshiharu Laguna (“YL”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuLagunaMember_zRYVH0qYHwT7" title="Date of formation">May 2, 2022</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuLagunaMember_z5ArGyULdZQ5" title="Description of business">Ramen store to be opened in Laguna, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuOntarioMember_znr6Om7rvqwk" title="Name of subsidiary">Yoshiharu Ontario (“YO”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuOntarioMember_zQ3b3ek3HRg5" title="Date of formation">May 2, 2022</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuOntarioMember_zZVUQCGmrET4" title="Description of business">Ramen store to be opened in Ontario, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuMenifeeMember_zrK9PupXzCca" title="Name of subsidiary">Yoshiharu Menifee (“YM”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuMenifeeMember_zw5wJsWtqU9g" title="Date of formation">May 2, 2022</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuMenifeeMember_zupCySkx4kl7" title="Description of business">Ramen store to be opened in Menifee, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><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 id="xdx_909_ecustom--NameOfSubsidiary_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuCypressMember_zJkox1HDEdJe" title="Name of subsidiary">Yoshiharu Cypress (“YCP”)</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></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuCypressMember_z4Kpdf6jdcPd" title="Date of formation">January 26, 2023</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--EntityDescriptionOfBusiness_c20230101__20230331__dei--LegalEntityAxis__custom--YoshiharuCypressMember_z562c1xCHyn5" title="Description of business">Ramen store to be opened in Cypress, California</span>.</span></td></tr> </table> <p id="xdx_8A1_zXH0lSMUWQB" 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 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company owns several restaurants specializing in Japanese ramen and other Japanese cuisines. The Company offers a variety of Japanese ramens, rice bowls, and appetizers. Unless otherwise stated or the context otherwise requires, the terms “Yoshiharu” “we,” “us,” “our” and the “Company” refer collectively to Yoshiharu and, where appropriate, its subsidiaries.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; 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 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to September 30, 2021, the Yoshiharu business (the “Business”) consisted of the first seven separate entities listed above (collectively, the “Entities”), each wholly owned by James Chae (“Mr. Chae”), and each holding one (1) store, except for JJ, which held two stores and the Business’s intellectual property (the “IP”). Effective October 2021, JJ transferred the IP to Mr. Chae. Effective October 2021, Mr. Chae contributed <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrChaeMember_zXJTLRjo0QQc" title="Ownership percentage">100</span>% of the equity interests in each of the Entities to Yoshiharu Holdings Co., a California corporation (“Holdings”), for purposes of consolidating the Business operations into a single entity. Mr. Chae was issued an aggregate <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211002__20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrChaeMember_zdcTlQe48Ye1" title="Issuance of shares">3,205,000</span> shares in Holdings, which reflected the aggregate number of shares originally issued to Mr. Chae by the Entities, in exchange for <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrChaeMember_zITgHWz8Rdfc" title="Ownership percentage">100%</span> of each Entity (on a 1 for 1 share exchange basis). In addition, effective October 2021, Mr. Chae transferred the IP to Holdings in exchange for the issuance of <span id="xdx_90D_ecustom--StockIssuedDuringPeriodSharesForIntellectualProperty_c20211002__20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrChaeMember_zyNtQ30ByKn" title="Issuance of shares for intellectual property">6,245,900</span> shares in Holdings in order to bring his total shareholdings in Holdings up to an aggregate <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211002__20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrChaeMember__srt--RangeAxis__srt--MaximumMember_zKl7sh1hRYFg" title="Issuance of shares">9,450,900</span> shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; 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 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 9, 2021, Yoshiharu completed a share exchange agreement whereby Mr. Chae, the sole stockholder of Holdings, received <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211208__20211209__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrChaeMember_zS1BubeQpE0c" title="Issuance of shares">9,450,900</span> shares of Yoshiharu, representing <span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211209__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MrChaeMember_zsBlOUzex1g6" title="Ownership percentage">100</span>% of issued shares at that time, and Yoshiharu received all of the shares of Holdings. This recapitalization was accounted for in accordance with the “Transactions Between Entities Under Common Control” subsections of Accounting Standards Codification (“ASC”) 805-50, Business Combinations, which requires that the receiving entity recognize the net assets received at their historical carrying amounts. A common-control transaction has no effect on the parent’s consolidated financial statements. No value was ascribed to the shares issued for the transfer of the IP since the only relevance of the aggregate number of shares issued to Mr. Chae in Holdings was to effect the 1 for 1 share exchange with Yoshiharu upon its incorporation in Delaware. ASC 805-50 also prescribes that, if the recognition of the net assets results in a “change in the reporting entity,” the receiving entity presents the transfer in its separate financial statements retrospectively. Accordingly, the assets and liabilities and the historical operations that are reflected in these consolidated financial statements are those of the subsidiaries and are recorded at the historical cost basis of the subsidiaries.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; 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"><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: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; 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 0pt 27pt; text-align: justify"/>
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zMPw1YNZx1wl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zOypcDcDSWrd">Use of Estimates and Assumptions</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; 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 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and the accompanying notes. Such estimates include accounts receivables, accrued liabilities, income taxes, long-lived assets, and deferred tax valuation allowances. These estimates generally involve complex issues and require management to make judgments, involve analysis of historical and future trends that can require extended periods of time to resolve, and are subject to change from period to period. In all cases, actual results could differ materially from estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Marketing Expense
MarketingExpense
26342 usd
CY2022Q1 us-gaap Marketing Expense
MarketingExpense
35666 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q4 YOSH Long Term Debt Economic Injury Disaster Loans
LongTermDebtEconomicInjuryDisasterLoans
450000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zKsLzbQILaJi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zKawjsTwUuL2">Concentrations of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; 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 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable and other receivables arising from its normal business activities. The Company has a diversified customer base. The Company controls credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for un-collectible accounts and, as a consequence, believes that its accounts receivable related credit risk exposure beyond such allowance is limited.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: center"><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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify"/>
CY2023Q1 YOSH Current Portion Of Loan Payable Economic Injury Disaster Loans
CurrentPortionOfLoanPayableEconomicInjuryDisasterLoans
10892 usd
CY2022Q4 YOSH Current Portion Of Loan Payable Economic Injury Disaster Loans
CurrentPortionOfLoanPayableEconomicInjuryDisasterLoans
39652 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5273838 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4334854 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1034696 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1176426 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3969142 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3158428 usd
CY2023Q1 us-gaap Depreciation
Depreciation
128270 usd
CY2022 us-gaap Depreciation
Depreciation
658371 usd
CY2023Q1 us-gaap Notes Payable To Bank
NotesPayableToBank
1235389 usd
CY2022Q4 us-gaap Notes Payable To Bank
NotesPayableToBank
1286086 usd
CY2023Q1 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
270690 usd
CY2022Q4 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
265943 usd
CY2023Q1 us-gaap Notes Payable To Bank Noncurrent
NotesPayableToBankNoncurrent
964699 usd
CY2022Q4 us-gaap Notes Payable To Bank Noncurrent
NotesPayableToBankNoncurrent
1020143 usd
CY2023Q1 YOSH Long Term Debt Economic Injury Disaster Loans
LongTermDebtEconomicInjuryDisasterLoans
413482 usd
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07 pure
CY2023Q1 YOSH Loan Payable Economic Injury Disaster Loansl Non Current
LoanPayableEconomicInjuryDisasterLoanslNonCurrent
402590 usd
CY2022Q4 YOSH Loan Payable Economic Injury Disaster Loansl Non Current
LoanPayableEconomicInjuryDisasterLoanslNonCurrent
410348 usd
CY2023Q1 YOSH Restaurant Revitalization Fund
RestaurantRevitalizationFund
700454 usd
CY2022Q4 YOSH Restaurant Revitalization Fund
RestaurantRevitalizationFund
700454 usd
CY2023Q1 YOSH Restaurant Revitalization Fund Non Current
RestaurantRevitalizationFundNonCurrent
700454 usd
CY2022Q4 YOSH Restaurant Revitalization Fund Non Current
RestaurantRevitalizationFundNonCurrent
700454 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
16967 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
172720 usd
CY2022Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
0 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
231970 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
143561 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
231970 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
143561 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
178693 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
113574 usd
CY2023Q1 YOSH Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
178693 usd
CY2022Q1 YOSH Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
113574 usd
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M12D
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
647615 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
893761 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
923862 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
919143 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
882733 usd
CY2023Q1 YOSH Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4294398 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8561512 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07 pure
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6626267 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
518574 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6107693 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6626267 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1935245 usd

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