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YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
Customer
deposits
Customer
deposits represent amounts advanced by customers on product orders and unapplied unexpired coupons. Customer deposits are reduce... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
whether revenue should be recognized at a
point in time or over time, based on when control of goods and services transfers to a customer. Agape ATP Corp’s revenue streams
are recognized at a point ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
) the Company satisfies
the performance obligation.
The
Company accounts for a contract with a customer when the contract is committed in writing, the rights of the parties, including payment
terms,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company’s network marketing business, the Company issues
product coupons to members and distributors when these customers made purchases above certain thresholds set by the Company. Depending
on the... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
sales value of the coupons as net revenues. For the years ended December 31, 2022 and 2021, the Company
recognized $7,543 and $15,209 as forfeited coupon income, respectively.
As
of December 31, 20... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
Provision
of Healt... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
customers to attend
the health camp. Agape ATP Corp derives its revenues from sales contracts with its customers with revenues being recognized when the test
reports are completed and delivered to i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
years ended December 31,
2022
2021
Survivor Select
122,470
83,904
Energized Mineral Concentrate
52,047
Ionized Cal-Mag
148,219
39,527
Omega Blend
272,332
222,718
BetaMaxx
137,447
208... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,042
Others – Products for the provision of complementary health therapies
569,823
Others
3,468
Total revenues – products
1,711,054
1,009,419
Health and Wellness services
145,510
7,543
Tot... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
customers and
products for the provision of complementary health therapies. Cost of revenue amounted to $666,042
(including inventory write-downs of $5,307 and inventory written-off of $142,466) and... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ended December 31, 2022 and 2021, respectively. Advertising costs are expensed as
incurred and included in selling expenses.
Commission
expenses
Commission
expenses are the Company’s most signific... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ists of the Company, whereby they enjoy benefits such as maintaining a certain amount of the Company’s
inventory on their store premises. The stockists shall account to the Company for all products s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
subject to certain ceilings, in
accordance with the relevant government regulations, and make cash contributions to the government mandated defined contribution plan.
Total expenses for the plans we... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
0.2% based on employee’s monthly salary capped of RM 5,000;
Human
Resource Development Fund (“HRDF”) – 1% based on employee’s monthly salary
F-15
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
calculated using tax rates that have been enacted
or substantively enacted by the balance sheet date.
Deferred
taxes is accounted for using the asset and liability method in respect of temporary di... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
is related to items credited or charged
directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance
when, in the opinion... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
“more likely than not” test,
no tax benefit is recorded. $0 and $395 penalties and interest incurred related to underpayment of income tax for the years ended December
31, 2022 and 2021, respectivel... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
holders’ equity but are excluded from net income.
Other comprehensive income (loss) consists of a foreign currency translation adjustment resulting from the Company not using the U.S.
dollar as its f... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
or loss for the periods
between non-controlling interest holders and the shareholders of the Company.
F-16
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
on a per share basis of the potential ordinary shares (e.g., convertible
securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
currency are translated
into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded
in the consolidated statements of... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in Malaysia conducts its businesses and
maintains its books and record in the local currency, Malaysian Ringgit (“MYR” or “RM”), as its functional currency.
In
general, for consolidation purposes, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance
sheets.
Translation
of foreign currencies into US$1 have been made at t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
R : US$1 exchange rate
4.41
4.14
Period-average HKD : US$1 exchange rate
7.83
7.77
Foreign currency exchange
rate period average
7.83
7.77
F-17
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDA... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the other party in making financial and operating decisions. Companies are also
considered to be related if they are subject to common control or common significant influence.
Fair
value of financi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
liabilities in active markets, and inputs that
are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.
Level
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
existing contracts are, or contain, leases, (2) lease classification for any expired or existing
leases and (3) initial direct costs for any expired or existing leases. For lease terms of twelve mon... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
result in re-measurement of the right of use (“ROU”) assets and lease liabilities. Operating ROU assets and lease liabilities
are recognized at the commencement date, based on the present value of l... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
IAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
Lease
terms used to calculate the present v... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
residual guarantee. The operating lease ROU asset also excludes lease incentives.
Lease expense is recognized on a straight-line basis over the lease term.
The
Company reviews the impairment of its... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-tax cash flows.
Recent
accounting pronouncements
The
Company has reviewed all recently issued, but not yet effective, considers the applicability and impact of all accounting standards updates
(“A... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. Agape ATP Corp is currently evaluating
the impact ASUs 2016-13 and 2019-05 may have on its cons... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. Therefore, it was considered to be
a VIE and ASL is the primary beneficiary since it has both of the following characteristics:
a.
The
power to direct the activities of the VIE that most sign... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
3.
VARIABLE INTEREST ENTITY (“VIE”) (CONT’D)
The
carrying amount of the VIE’s assets and liabilities were as follows:
SCHEDULE OF VARIABLE INTEREST ENTITY
As of December 31,
2022
2021
Curren... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Other payables and accrued liabilities
1,090
1,548
Total current liabilities
43,512
51,272
Net deficit
(40,162
(32,422
The
summarized operating results of the VIE’s are as follows:
For th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, which consisted of
$513,152 and $554,864, respectively, of cash in banks and $914,811
and $1,975,347, respectively, of time deposits placed
with banks or other financial institutions and are all hi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
States Dollars (“US$”), except for number of shares)
5.
ACCOUNTS RECEIVABLE
SCHEDULE OF ACCOUNTS RECEIVABLES - RELATED PARTY
As of December 31,
2022
2021
Accounts receivable
2,826
Allowance ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$0 inventory
write-off, respectively.
7.
PREPAYMENTS AND DEPOSITS
SCHEDULE OF PREPAID EXPENSES AND DEPOSITS
As of December 31,
2022
2021
Receivables from sales distributors
43,596
115,379
D... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Addition
121,514
Write off
(120,372
Exchange rate effect
(723
(419
Ending balance
121,095
F-21
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in Un... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Vehicle
93,535
98,702
Subtotal
488,717
505,755
Less: accumulated depreciation
(346,568
(289,956
Total
142,149
215,799
Depreciation
expense for the years ended December 31, 2022 and 2021... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,044
3,660
Amortization
expense for the years ended December 31, 2022 and 2021 amounted to $2,122 and $1,961, respectively.
10.
INVESTMENT IN MARKETABLE SECURITIES
(i)
On
May 17, 2018, the C... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, 2018, the Company purchased 33,333 shares of common stock in Greenpro Capital Corp. for $1,000 at a purchase price of
$0.03 per share.
(iv)
On
July 19, 2022, Greenpro Capital Corp. filed ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,646
common stock of Greenpro Capital Corp. Agape ATP Corp’s investment of 116,646
common stock of Greenpro Capital Corp. was reduced to 11,665
subsequent to the reverse stock split.
(v)... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
315 at fair value of $5
per share from Greenpro Capital Corporation as result of its Spin-off of DSwiss, Inc.’s shares.
(vii)
On
September 27, 2021, the Company received dividend of 11,665 ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
at purchase price of $0.0001
per share. Phoenix Plus Corp. obtained approval for Depository Trust Company eligibility on April 26, 2022. Since the commencement of trading of common stock of ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ed in United States Dollars (“US$”), except for number of shares)
10.
INVESTMENT IN MARKETABLE SECURITIES (CONT’D)
SCHEDULE OF INVESTMENT IN MARKETABLE SECURITIES
As of December 31,
2022
2021
C... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
3, 2019, the Company purchased a 5% of stock or 15,000,000 shares of common stock in Phoenix Plus Corp. for $1,500 at purchase
price of $0.0001 per share. Phoenix Plus Corp. attained its effective da... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022
2021
As of December 31,
Phoenix Plus Corporation
2022
2021
Cost of investment
1,500
1,500
Less: Transfer to investment in marketable securities
(1,500
Investment in non-marketable s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of its network marketing business.
13.
OTHER PAYABLES AND ACCRUED LIABILITIES
SCHEDULE OF OTHER PAYABLES AND ACCRUED LIABILITIES
As of December 31,
2022
2021
Professional fees
324,629
436,54... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
The eWallet is primarily for the crediting of any commission payment that falls below RM100 (or $22.70). Commission payment
exceeding the RM100 threshold shall only be credited into the member’s or ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
PARTY BALANCES AND TRANSACTIONS
Related
party balances
Amount
due from related parties
SCHEDULE OF RELATED PARTIES
Name of Related
As of December 31,
Party
Relationship
Nature
2022
2021
T... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ape ATP (Asia) Limited (“AATP Asia”)
Mr. How Kok Choong, the CEO and director of the Company is also the sole shareholder and director of AATP Asia
Expenses paid for AATP Asia
2,214
Hostastay Sdn... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Party
Relationship
Nature
2022
2021
CTA Nutriceuticals (Asia) Sdn Bhd (“CTA”)
The directors and shareholders of CTA are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Inter... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
14.
RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D)
Related
party balanc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
The directors and shareholders of DSY Beauty are related parties to Mr. Yap Foo Ching (Steve Yap), a director of DSY Wellness International Sdn Bhd
Purchase of products for general use
2,147
Mr. H... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
DSY International Wellness Sdn Bhd
Purchases of products for the provision of complementary health therapies
198,376
DSY Beauty Sdn Bhd (“DSY Beauty”)
The directors and shareholders of DSY Beaut... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
718
F-25
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
14.
RELATED PARTY BALANCES AND TRANSA... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2021
Sublease
rental income due from Hostastay
4,345
Total
4,345
Other
purchases
Name of Related
For the years ended December 31,
Party
Relationship
Nature
2022
2021
CTA Nutriceutica... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Steve Yap), a director of DSY Wellness International Sdn Bhd
Purchases of beauty products
6,888
DSY Wellness & Longevity Center Sdn Bhd (“DSYWLC”)
Mr. Yap Foo Ching (Steve Yap), a director of DSY... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Commission
expense
Name of Related
For the years ended December 31,
Party
Relationship
Nature
2022
2021
Mr. How Kok Choong
Mr. How Kok Choong, the CEO and director of the Company
Commissi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. How Kok Choong, the CEO and director of the Company is also the director of Redboy
Sponsorship fee
22,686
718
DSY Wellness & Longevity Center Sdn Bhd (“DSYWLC”)
Mr. Yap Foo Ching (Steve Yap), ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
As
of December 31, 2022 and 2021, there were 200,000,000 preferred stocks authorized but none were issued and outstanding.
Common
stock
As
of December 31, 2022 and 2021, there were 1,000,000,000 ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,750,000 shares of common stock of the Company, and (ii) the Forfeiting Shareholders
had agreed to forfeiture, in aggregate, 44,242,000 shares of common stock of the Company. Included in (ii) is 11,2... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the Company, pursuant to which Mr. How Kok Choong agreed to forfeit 215,008,035 shares of common stock
of the Company. As a result, the outstanding shares was reduced by 215,008,035 shares of common... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
other comprehensive income
32
Non Controlling interest Gross
20,513
(336
ASL
Total
20,513
(336
F-28
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(1,064,314
Foreign – Hong Kong
(68,394
(616,640
Foreign, Tax jurisdictions
(68,394
(616,640
Loss before income tax
(1,670,134
(2,387,613
The
benefit of (provision for) income taxes consis... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad
range of income tax rates. Agape ATP Corp and its subsidiary that... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of 35%. In addition, the
Tax Cuts and Jobs Act imposed a global intangible low-taxed income (“GILTI”) tax, which is a tax on certain off-shore earnings
at an effective rate of 10.5% for tax years (5... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ILTI tax.
F-29
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
17.
INCOME TAXES (CONT’D)
As
o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
$285,000 and $130,000, respectively.
For
the year ended December 31, 2021, the Company re-visited its fiscal 2020 U.S. income taxes and determined its stock dividend from Greenpro
Capital Corp as a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
assets of estimated NOL of $65,648 were fully utilized and reduced to $0.
Malaysia
Changes
to the Labuan Business Activity Tax Act (LBATA) 1990 which was gazetted and came into operation on Januar... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
net audited profit. On June 11, 2021, Agape ATP Corporation made an irrevocable election
to be taxed under the Malaysian Income Tax Act 1967 as the elected tax regime is more tax efficient to the en... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
% enterprise income taxes rate while preferential tax rates,
tax holidays and even tax exemption may be granted on case-by-case basis. The tax rate for small and medium sized companies (generally
com... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
carried forward to offset future taxable income. Approximately $790,000, $897,000
and $36,000 of the net operating loss carry forwards will expire in 2028, 2029 and 2030, respectively, if unutilized... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
its Tax or deduction.
F-30
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed in United States Dollars (“US$”), except for number of shares)
17.
INCOME TAXES (C... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
0
Permanent difference
1.2
%(1)
(12.7
)%(2)
Effective tax rate
0.3
(5.7
)%
(1)
The
amount comprised:
(1)
The
amount comprised: (1.0)% being expenses
incurred in AATP LB, ASL... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in the Malaysia tax returns; and 6.7% being expenses
incurred in AATP LB, ASL, SEA, WATP, and DSY Wellness that are not deductible in the Malaysia tax return.
6.2%
being income derived in A... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
operating loss carry forwards in U.S.
284,959
153,061
Net operating loss carry forwards in Malaysia
408,226
227,106
Net operating loss carry forwards in Malaysia
408,226
227,106
Less: valua... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Agape ATP Corp did not
incur interest and penalties tax for the years ended December 31, 2022 and 2021.
F-31
AGAPE
ATP CORPORATION
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Currency
expressed ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
accounts receivable balance as of December 31, 2021.
(b)
Major vendors
For
the year ended December 31, 2022, three vendors accounted for approximately 53.3%, 22.1% and 21.3% of the Company’s total... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the vendor that accounted for the Company’s total purchases of approximately 22.1% and 47.3% for the years ended December 31, 2022
and 2021, respectively.
As
of December 31, 2022, three vendors acco... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Sales Distributors and Stockists
For
the year ended December 31, 2022, one sales distributor accounted for approximately 10.3%
of the Company’s total commission expense. For the year ended December... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
it also
continually monitors their credit worthiness.
Financial
instruments that are potentially subject to credit risk consist principally of accounts receivable. Agape ATP Corp believes the conce... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
periods and because of the fluctuating exchange rate actually post higher or lower
profit depending on exchange rate of RM and HK$ converted to US$ on that date. The exchange rate could fluctuate de... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of approximately $490,000, with a corresponding right-of-use
(“ROU”) asset in the same amount based on the present value of the future minimum rental payments of the lease, using an
effective intere... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
liabilities
upon lease modifications based on the present value of the future minimum rental payments of the lease, using an effective interest rate
of 5.5%, which was determined using the Company’s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
branch
office and operating centre. Agape ATP Corp recognized lease liabilities of approximately $10,864, with a corresponding right-of-use (“ROU”)
asset in the same amount based on the present valu... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
interest
(1,439
Present value of lease liabilities
82,707
The
Company also leased one office and operation center, and one shophouse with an expiring term of twelve months or less, which were cl... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
.
Contingencies
Legal
From
time to time, the Company is party to certain legal proceedings, as well as certain asserted and un-asserted claims. Amounts accrued,
as well as the total amount of reas... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
have been fully vaccinated,
i.e. received two doses of the COVID-19 vaccine are encouraged to take booster shots.
Substantially
all of our revenues are concentrated in Malaysia. Consequently, our r... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
closure of offices, travel restrictions, disruption or suspension of supplies, our customers may be negatively impacted financially
resulting in which the demand for our products may be adver... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
19 cannot
be reasonably estimated at this time. There is no guarantee that the Company’s total revenues will grow or remain at similar levels
year over year in 2023 and beyond.
20.
SUBSEQUENT EVENTS... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
10-Q
☒
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF
THE SECURITIES EXCHANGE ACT OF 1934
For
The Quarterly Per... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Nevada
36-4838886
(State
or other jurisdiction of
incorporation
or organization)
(I.R.S.
Employer
Identification
No.)
1705
- 1708, Level 17, Tower 2, Faber Tower, Jalan Desa Bahag... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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 wheth... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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” i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes
☐ No ☒
APPLICABLE
ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
Indicate
by check ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of the latest practicable date.
Class
Outstanding
at May 11, 2023
Common
Stock, $0.0001 par value
75,452,012
TABLE
OF CONTENTS
Page
PART
I
FINANCIAL INFORMATION
ITEM
1.
UNA... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ensed Consolidated Financial Statements
F-5
- F-32
ITEM
2.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM
3.
QUANTITATIVE AND QUALITATIVE ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
INE SAFETY DISCLOSURES
14
ITEM
5
OTHER INFORMATION
14
ITEM
6
EXHIBITS
14
SIGNATURES
15
PART
I FINANCIAL INFORMATION
ITEM
1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS:
... |
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