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
NXTT$4.89+3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
CONDENSED CONSOLIDATED BALANCE SHEETS
| (All amounts shown in U.S. Dollars) | As of September 30, 2024 | As of December 31, 2023 (Audited) |
|---|---|---|
| Restated | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $668,387 | $668,387 |
| Digital assets | 53,037,144 | 35,137,576 |
| Accounts receivable-third parties, net | - | 1,000,000 |
| Amount due from related parties | 206,724 | - |
| Prepayments | 12,125,500 | 12,125,500 |
| Total current assets | 66,037,755 | 48,931,463 |
| Non-current assets: | ||
| Investment in associate company | 13,396,000 | - |
| Total assets | 79,433,755 | $48,931,463 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Account payables | - | 800,000 |
| Amount due to related parties | 1,478,588 | 1,692,672 |
| Tax payable | 130,415 | 130,415 |
| Other payables | 1,082,500 | 1,600,000 |
| Total current liabilities | 2,691,503 | 4,223,087 |
| Non-current liabilities: | ||
| Deferred tax liabilities | 2,666,078 | — |
| Total liabilities | 5,357,581 | 4,223,087 |
| Stockholders’ equity: | ||
| Common stock; no par value; 6,976,410 and 2,625,130 issued and outstanding at September 30, 2024 and December 31, 2023 respectively | 71,718,790 | 56,348,650 |
| Retained Earnings /(Accumulated Deficits) | 2,357,384 | (11,640,274) |
| Total stockholders’ equity | 74,076,174 | 44,708,376 |
| Total liabilities and stockholders’ equity | $79,433,755 | $48,931,463 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| For the Three Months End September 30, 2024 | For the Three Months End September 30, 2023 | For the Nine Months End September 30, 2024 | For the Nine Months Ended September 30, 2023 | |
|---|---|---|---|---|
| Revenue: | ||||
| Service revenue | $— | $1,500,000 | $— | $1,500,000 |
| Total service revenue | — | — | — | |
| Cost of revenue | — | (270,864) | — | (270,864) |
| Gross Profit | — | 1,229,136 | — | 1,229,136 |
| Operating expenses | ||||
| General and administrative expense | (566,983) | (234,800) | (1,242,128) | (537,576) |
| Total operating expenses | (566,983) | (234,800) | (1,242,128) | (537,576) |
| (Loss)/ Profit from operations | (566,983) | 994,336 | (1,242,128) | 691,560 |
| Other income/(loss) | 2,303,789 | (14,406,397) | 17,899,568 | (14,406,396) |
| Profit/ (loss) before income taxes | 1,736,806 | (13,412,061) | 16,657,440 | (13,714,836) |
| Income tax expenses | (364,730) | — | (2,666,078) | — |
| Net profit/ (loss) from continuing operation | $1,372,076 | $(13,412,061) | $13,991,362 | $(13,714,836) |
| Net profit/ (loss) from discontinued operation | 6,296 | 301,392 | 6,296 | (1,552,178) |
| Total comprehensive profit/ (loss) | $1,378,372 | $(13,110,669) | $13,997,658 | $(15,267,014) |
| Earnings /(Loss) per share, basic and diluted from continuing operation | $0.20 | $(9.47) | $2.59 | $(11.66) |
| Earnings /(Loss) per share, basic and diluted from discontinued operation | $0.001 | $0.21 | $0.001 | $(1.32) |
| Weighted-average shares outstanding, basic and diluted | 6,976,410 | 1,416,813 | 5,404,232 | 1,176,618 |
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY
Three months ended September 30, 2024
| Common Stock · Retained · Total Shareholder | ||||
|---|---|---|---|---|
| Shares | Amount | Earnings | Equity | |
| Balance as of June 30, 2024 | 6,976,410 | $71,718,790 | $979,012 | $72,697,802 |
| Net profit for the period | — | — | 1,372,076 | 1,372,076 |
| Gain from discontinued operation | — | — | 6,296 | 6,296 |
| Balance as of September 30, 2024 | 6,976,410 | $71,718,790 | $2,357,384 | $74,076,174 |
Nine months ended September 30, 2024
| Common Stock · (Accumulated Deficits)/ Retained · Total Shareholder | ||||
|---|---|---|---|---|
| Shares | Amount | Earnings | Equity | |
| Balance as of December 31, 2023 | 2,625,130 | $56,348,650 | $(11,640,274) | $44,708,376 |
| Stock issued during the period | 4,351,280 | 15,370,140 | — | 15,370,140 |
| Net profit for the period | — | — | 13,991,362 | 13,991,362 |
| Gain from discontinued operation | — | — | 6,296 | 6,296 |
| Balance as of September 30, 2024 | 6,976,410 | $71,718,790 | $2,357,384 | $74,076,174 |
Three months ended September 30, 2023
| Common Stock · Accumulated · Total Shareholder | ||||
|---|---|---|---|---|
| Shares | Amount | Deficits | Equity | |
| Balance as of June 30, 2023 | 1,054,530 | $43,732,196 | $(3,871,203) | $39,860,993 |
| Stock issued during the period | 1,570,600 | 12,616,454 | — | 12,616,454 |
| Gain from discontinued operation | — | — | 301,392 | 301,392 |
| Net loss for the period | — | — | (13,412,061) | (13,412,061) |
| Balance as of September 30, 2023 | 2,625,130 | $56,348,650 | $(16,981,872) | $39,366,778 |
Nine months ended September 30, 2023
| Common Stock · Accumulated · Accumulated Other Comprehensive · Total Shareholder | |||||
|---|---|---|---|---|---|
| Shares | Amount | Deficits | Income | Equity | |
| Balance as of December 31, 2022 | 1,054,530 | $43,732,196 | $(1,714,858) | $(310,576) | $41,706,762 |
| Stock issued during the period | 1,570,600 | 12,616,454 | — | — | 12,616,454 |
| Foreign currency translation adjustment | — | — | — | 310,576 | 310,576 |
| Loss from discontinued operation | — | — | (1,552,178) | — | (1,552,178) |
| Net loss for the period | — | — | (13,714,836) | — | (13,714,836) |
| Balance as of September 30, 2023 | 2,625,130 | $56,348,650 | $(16,981,872) | $— | $39,366,778 |
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.**
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Nine months Ended | For the Nine months Ended | |
|---|---|---|
| September 30, 2024 | September 30, 2023 | |
| Cash flows from operating activities: | ||
| Net Profit/ (loss) | $13,991,362 | $(13,714,836) |
| Fair value (gain)/loss from digital assets | (17,899,568) | 3,059,342 |
| Gain/ (loss) from discontinued operation | 6,296 | (1,552,178) |
| Changes in operating assets and liabilities: | ||
| Accounts receivables | 1,000,000 | — |
| Prepayments | — | 50,000 |
| Account payables | (800,000) | — |
| Director fee payable | 92,000 | — |
| Accrued expenses | 49,500 | 270,864 |
| Other payables | 813,000 | — |
| Deferred tax liabilities | 2,666,078 | — |
| Net cash flows used in continued operating activities | (81,332) | (11,886,808) |
| Net cash flows used in discontinued operating activities | — | 32,881,236 |
| Net cash flows (used in)/ provided by operating activities | (81,332) | 20,994,428 |
| Cash flow from Investing activities: | ||
| Prepayment for digital assets | — | (12,125,500) |
| Digital assets | — | (24,990,000) |
| Net cash flows used in investing activities | — | (37,115,500) |
| Cash flow from financing activities: | ||
| Shareholders’ loan | (512,808) | 87,440 |
| Proceeds from stock issuances | 594,140 | 12,616,454 |
| Net cash flows from financing activities | 81,332 | 12,703,894 |
| Net cash flows from discontinued activities | — | 4,500,000 |
| Net cash flows provided by financing activities | 81,332 | 17,203,894 |
| Effect of exchange rate changes on cash | — | 310,576 |
| Change in cash and cash equivalents: | — | 1,393,398 |
| Cash and cash equivalents, beginning of period | $668,387 | $22,926 |
| Cash and cash equivalents, end of period | $668,387 | $1,416,324 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $— | $— |
| Cash paid for taxes | $— | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.