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Maison Solutions Inc

For the period ended Oct 31, 2024. Filed Dec 16, 2024.

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About 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.

Oct 31, 2024 · Filed Dec 16, 2024

MSS$1.06+8.1%Stored close · as of Nov 6, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended October 31, 2024

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File No.001-41720

MAISON SOLUTIONS INC.

(Exact name of registrant as specified in its charter)

Delaware84-2498797
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

127 N Garfield Avenue Monterey Park, California 91754

(Address of Principal Executive Offices, including zip code)

(626) 737-5888

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A common stock, $0.0001 par value per shareMSSThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☐No ☒

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☐Large accelerated filer☐Accelerated filer
☒Non-accelerated filer☒Smaller reporting company
☒Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes ☐ No☒

As of December 11, 2024, the number of shares of Class A common stock, $0.0001 par value, outstanding was 17,450,476 shares, and the number of shares of Class B common stock, $0.0001 par value, outstanding was 2,240,000 shares.

MAISON SOLUTIONS INC.

FORM 10-Q FOR THE QUARTER ENDED OCTOBER 31, 2024

TABLE OF CONTENTS

Page
PART I. FINANCIAL INFORMATION1
Item 1.Financial Statements1
Consolidated Balance Sheets as of October 31, 2024 (Unaudited) and April 30, 2024 (Audited)1
Consolidated Statements of Operations for the Three and Six Months Ended October 31, 2024 and 2023 (Unaudited)2
Consolidated Statements of Changes in Stockholders’ Equity for the Three and Six Months Ended October 31, 2024 and 2023 (Unaudited)3
Consolidated Statements of Cash Flows for the Six Months Ended October 31, 2024 and 2023 (Unaudited)4
Notes to Financial Statements (Unaudited)5
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations32
Item 3.Quantitative and Qualitative Disclosures about Market Risk48
Item 4.Controls and Procedures48
PART II. OTHER INFORMATION50
Item 1.Legal Proceedings50
Item 1A.Risk Factors50
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds50
Item 3.Defaults Upon Senior Securities50
Item 4.Mine Safety Disclosures50
Item 5.Other Information50
Item 6.Exhibits51
SIGNATURES52

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