Antiaging Quantum Living Inc
For the period ended Jun 30, 2024. Filed Aug 13, 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.
Jun 30, 2024 · Filed Aug 13, 2024
AAQLStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2023-12-31; filed 2024-02-14.
0001493152-24-006302
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-06-30; filed 2024-08-13.
0001493152-24-031444
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 28 previous paragraphs and 27 current paragraphs.
20 unchanged; 5 reworded; 2 added; 1 removed; 2 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 1 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 (2)
Current report
On June 6, 2024, the holders of a majority of the issued and outstanding voting securities of the Company approved an amendment to its Certificate of Incorporation increase in the number of authorized shares of common stock of the Company from thirty million (30,000,000) shares of common stock, par value $0.001 per share, to six billion (6,000,000,000) shares of common stock, par value $0.00001 per share (the “Authorized Capital Increase”). Upon the effectiveness of the Authorized Capital Increase, the shares of common stock will be categorized as follows: 1,200,000,000 Class A shares, 1,200,000,000 Class B shares, 1,200,000,000 Class C shares, 1,200,000,000 Class D shares, and 1,200,000,000 Class E shares. On the same day, the Certificate of Amendment to the Certificate of Incorporation of the Company was filed with New York State Department effectuating the Authorized Capital Increase.
Current report
On July 25, 2024, the Board of Directors of the Company approved the appointment of J&S Associate PLT to be the new independent registered public accounting firm for the financial period ending June 30, 2024. This appointment addressed the vacancy created by the resignation of PWN LLP as the Company’s former independent registered public accounting firm.
Removed paragraphs (1)
Previous report
During the nine months ended December 31, 2023 and 2022, the Company generated revenue in the amount of $7,499 and $12,400, respectively. During the nine months ended December 31, 2023 and 2022, the Company incurred operating expenses of $147,251 and $41,797, respectively. The increase in operating expenses was mainly due to the increase in charitable donation expense of $10,000, rental expenses and employee wages and benefits, and professional fees. To align with the business direction, the Company increased professional fees and other services as required. Moreover, as an act of goodwill and a display of philanthropy, the Company made a charitable donation of $10,000.
Reworded paragraphs (5)
Previous wording
During the three months ended December 31, 2023 and 2022, the Company generated revenue in the amount of $6,299 and $4,000, respectively. During the three months ended December 31, 2023 and 2022, the Company incurred operating expenses of $102,632 and $10,772, respectively. The Company commenced selling of health and beauty products through mobile app in the quarter ending December 31, 2023. The increase in revenues and costs are related to the sales of health and beauty products. The increase in operating expenses was mainly due to the increase in rental expenses and employee wages and benefits, which are related to the new entities established as part of the Company’s initiative for business expansion. The Company also incurred start-up costs such as cloud hosting expenses, development and maintenance costs in pursuit of its business plan.
Current wording
During the three months ended June 30, 2024 and 2023, the Company generated revenue in the amount of $202,069 and $1,200, respectively. During the three months ended June 30, 2024 and 2023, the Company incurred operating expenses of $415,837 and $30,927, respectively. The increase in revenues and costs are related to the sales of health and beauty products which commenced since Q3 of December 31, 2023. The increase in operating expenses was mainly due to the increase in rental expenses and employee wages and benefits, which are related to the Company’s initiative for business expansion. The Company also incurred start-up costs such as cloud hosting expenses, development and maintenance costs in pursuit of its business plan.
Previous wording
For the three months ended December 31, 2023, our net loss was $97,090 comparing to a net loss of $6,772 for the three months ended December 31, 2022. The increase in net loss is mainly due to the increased operating expenses.
Current wording
For the three months ended June 30, 2024, our net loss was $213,908 comparing to a net loss of $29,727 for the three months ended June 30, 2023. The increase in net loss is mainly due to the increased operating expenses.
Previous wording
As of December 31, 2023, we had an accumulated deficit of $427,527. As of December 31, 2023, we had cash of $125,648 and negative working capital of $542,859, compared to cash of $354 and a negative working capital of $86,647 as of March 31, 2023.
Current wording
As of June 30, 2024, we had an accumulated deficit of $903,211. As of June 30, 2024, we had cash of $122,651 and negative working capital of $767,839, compared to cash of $166,552 and a negative working capital of $647,227 as of March 31, 2024.
Previous wording
The increase in the working capital was primarily due to advances from related party, proceeds from loans payable, increase of accounts payables and customer advances, and the loan forgiveness by the former President which was partially offset by cash used to pay for operating expenses.
Current wording
The increase in the working capital deficit was primarily due to advances from related party, wages payables, increase of accounts payables and customer advances.
Previous wording
We had Cash and cash equivalent of approximately $125,648 at December 31, 2023, and the Company also do not have any bank loans; Our liabilities are mainly borrowed by the Company’s shareholders and do not require us to return them at this time. Shareholders will continue to invest if necessary. Now, the company is operating normally, and we will make some efforts on our expense control in the near future.
Current wording
We had cash and cash equivalent of approximately $122,651 at June 30, 2024, and the Company also do not have any bank loans; Our liabilities are mainly borrowed by the Company’s shareholders and do not require us to return them at this time. Shareholders will continue to invest if necessary. Now, the company is operating normally, and we will make some efforts on our expense control in the near future.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
Results of Operation for the nine months ended December 31, 2023 and 2022
Previous report — wording carried elsewhere
For the nine months ended December 31, 2023, our net loss was $151,196 comparing to a net loss of $29,397 for the nine months ended September 30, 2022. The increase in net loss is mainly due to the increased operating expenses.