Antiaging Quantum Living Inc
For the period ended Sep 30, 2024. Filed Nov 14, 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 14, 2024
AAQLStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious 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 OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-14.
0001493152-24-045300
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 27 previous paragraphs and 33 current paragraphs.
20 unchanged; 4 reworded; 4 added; 3 removed; 0 previous and 5 current paragraphs rearranged.
Tables are not compared: 1 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 (4)
Current report
The increase in the working capital deficit was primarily driven by a rise in other receivables and current assets, an increase in account receivable, increased advances to suppliers, a increase in accounts payable and accrued expenses, and an increase in other payables, which affected available cash.
Current report
The Company’s net loss was partially offset by non-cash expenses, including $71,921 in depreciation and $150,385 in amortization related to right-of-use (ROU) assets, mainly associated with leased office spaces and leasehold improvements.
Current report
For the six months ended September 30, 2024, the Company purchased fixed assets totalling $44,820 and received advances of $138,745 from related parties for working capital. These advances are currently not due for repayment, and the shareholders are prepared to continue providing funding as needed.
Current report
As of September 30, 2024, we held approximately $37,403 in cash and cash equivalents and did not have any outstanding bank loans. Our liabilities are primarily funded by shareholder loans, which do not require immediate repayment. Operations are continuing as usual, and management is committed to implementing expense control measures in the near term to support liquidity.
Removed paragraphs (3)
Previous report
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 report
The accounts payable increase as a result of unpaid service fees incurred, while customer advances increased as a result of payments received from customers who placed order of goods through its mobile application.
Previous report
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.
Reworded paragraphs (4)
Previous 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.
Current wording
During the three months ended September 30, 2024 and 2023, the Company generated revenue in the amount of $173,174 and $nil, respectively. During the three months ended September 30, 2024 and 2023, the Company incurred operating expenses of $356,569 and $24,378, respectively. The increase in revenues and costs are related to the sales of health and beauty products which commenced since October 1, 2023. The Company also generated revenues in the amounts of $110,946 for its online platform technical operation support and maintenance services during the three months ended September 30, 2024.
Previous 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.
Current wording
For the three months ended September 30, 2024, our net loss was $197,746 comparing to a net loss of $24,378 for the three months ended September 30, 2023. The increase in net loss is mainly due to the increased operating expenses.
Previous 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.
Current wording
As of September 30, 2024, we had an accumulated deficit of $1,100,957; cash of $37,403; and a working capital deficit of $986,427, compared to accumulated deficit of $689,303; cash of $166,552 and a working capital deficit of $647,227 as of March 31, 2024.
Previous wording
The unaudited condensed financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.
Current wording
The unaudited condensed and consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.
Rearranged current paragraphs (5)
Current report — wording carried from elsewhere
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 and additional revenue stream. The Company also incurred start-up costs such as cloud hosting expenses, development and maintenance costs in pursuit of its business plan.
Current report — wording carried from elsewhere
Results of Operation for the six months ended September 30, 2024 and 2023
Current report — wording carried from elsewhere
During the six months ended September 30, 2024 and 2023, the Company generated revenue in the amount of $375,243 and $1,200, respectively. During the six months ended September 30, 2024 and 2023, the Company incurred operating expenses of $772,405 and $55,305, respectively. The increase in revenues and costs are related to the sales of health and beauty products which commenced since October 1, 2023. The Company also generated revenues in the amounts of $251,507 for its online platform technical operation support and maintenance services during the six months ended September 30, 2024.
Current report — wording carried from elsewhere
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 and additional revenue stream. The Company also incurred start-up costs such as cloud hosting expenses, development and maintenance costs in pursuit of its business plan.
Current report — wording carried from elsewhere
For the six months ended September 30, 2024, our net loss was $411,654 comparing to a net loss of $54,105 for the six months ended September 30, 2023. The increase in net loss is mainly due to the increased operating expenses.