Next Technology Holding Inc
For the period ended Sep 30, 2024. Filed Nov 15, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 15, 2024
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-21.
0001213900-24-071422
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-15.
0001213900-24-098963
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 46 previous paragraphs and 48 current paragraphs.
30 unchanged; 11 reworded; 7 added; 5 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 2 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (7)
Current report
Results of Operations for the Nine months period Ended September 30, 2024 and 2023
Current report
Other Income/ (expenses)
Current report
Net Profit/ (loss)
Current report
Other income/ (expenses)
Current report
The other income of $2,303,789 is mainly due to loss from digital assets during the period. The other expenses of $14,406,397 were mainly for fair value loss of digital assets of $3.05 million and provision for bad debts of $11.3 million in prior reporting period.
Current report
Investing activities
Current report
Cash provided used in investing activities was $nil for the period ended September 30, 2024 as compared to cash used in investing activities of $37,115,500 in prior period. The decrease is mainly due to no digital assets being purchased during the period.
Removed paragraphs (5)
Previous report
Results of Operations for the Six months period Ended June 30, 2024 and 2023
Previous report
Other Income
Previous report
Net Profit
Previous report
Other Income/(loss)
Previous report
The other loss of $8,423,620 is mainly due to loss from digital assets during the period.
Reworded paragraphs (11)
Previous wording
The following tables provide a comparison of a summary of our results of operations for the six months period ended June 30, 2024 and 2023.
Current wording
The following tables provide a comparison of a summary of our results of operations for the nine months period ended September 30, 2024 and 2023.
Previous wording
For the six-month period ended June 30, 2024 and 2023, total revenue were $nil respectively.
Current wording
For the nine-month period ended September 30, 2024 and 2023, total revenue were $nil and $1,500,000 respectively. The decrease is mainly due to decrease in AI SAAS revenue during the period.
Previous wording
For the six months period ended June 30, 2024 and 2023, general and administrative expenses were $675,143 and $302,775 respectively. The increase is mainly due to increase in BTC consulting fee during the period.
Current wording
For the nine months period ended September 30, 2024 and 2023, general and administrative expenses were $1,242,128 and $537,576 respectively. The increase is mainly due to an increase in BTC consulting fee and legal fees during the period.
Previous wording
The other income of $15,595,778 is mainly due to gain from digital assets during the period.
Current wording
The other income of $17,899,568 is mainly due to an increase in gain from digital assets during the period as compared to the provision for bad debts of $11,347,054 in prior period.
Previous wording
As a result of the factors described above, there was a net profit of $12,629,816 and net loss of $302,775 for the period ended June 30, 2024 and 2023, respectively. The increase in net profit is mainly due to gain from digital assets during the period.
Current wording
As a result of the factors described above, there was a net profit of $13,991,362 and net loss of $13,714,836 for the period ended September 30, 2024 and 2023, respectively. The increase in net profit is mainly due to gain from digital assets during the period.
Previous wording
The following tables provide a comparison of a summary of our results of operations for the three months period ended June 30, 2024 and 2023.
Current wording
The following tables provide a comparison of a summary of our results of operations for the three-month period ended September 30, 2024 and 2023.
Previous wording
For the three-month period ended June 30, 2024 and 2023, total revenue were $nil respectively.
Current wording
For the three-month period ended September 30, 2024 and 2023, total revenue were $nil and $1,500,000 respectively. The decrease is mainly due to decrease in AI SAAS system revenue during the period.
Previous wording
For the three months period ended June 30, 2024 and 2023, general and administrative expenses were $345,000 and $166,294 respectively. The increase is mainly due to increase in BTC consulting fee during the period.
Current wording
For the three months period ended September 30, 2024 and 2023, general and administrative expenses were $566,983 and $234,800 respectively. The increase is mainly due to an increase in BTC consulting fee and legal fees during the period.
Previous wording
As a result of the factors described above, there was a net loss of $6,916,679 and net loss of $166,294 for the period ended June 30, 2024 and 2023, respectively. The increase in net loss is mainly due to loss from digital assets during the period.
Current wording
As a result of the factors described above, there was a net profit of $1,372,076 and net loss of $13,412,061 for the period ended September 30, 2024 and 2023, respectively. The increase in net profit is mainly due to loss from digital assets and no provision for bad debts were incurred during the period.
Previous wording
As of June 30, 2024, our cash flow used in operating activities is $529 for the period ended June 30, 2024 as compared to the cash flow used in operating activities of $648,252 in prior period. The decrease was mainly due to increase in deferred tax liabilities during the period.
Current wording
As of September 30, 2024, our cash flow used in operating activities is $81,332 for the period ended September 30, 2024 as compared to the net cash flow from operating activities of $11,886,808 in prior period. The decrease was mainly due to the turnaround of the net profit of $13.9 million from the net losses of $13.7 million in prior reporting period.
Previous wording
Cash provided by our financing activities was $634 for the period ended June 30, 2024 as compared to cash provided by financing activities of $318,000. The decrease is mainly due to lesser in shareholders’ advance during the period as compare to the prior period.
Current wording
Cash provided by our financing activities was $81,332 for the period ended September 30, 2024 as compared to cash provided by financing activities of $17,203,894. The decrease is mainly due to lesser in shareholders’ advance and no issuance of stock during the period as compared to the prior period.