10-Q Filing

ADDENTAX GROUP CORP. CIK: 1650101 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001493152-22-022545`
Period End Date	20220630
Filing Date	20220815
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 34 Cash Flow Statement 50 Stockholders Equity 12

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.69M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.69M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.39M	USD	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$2.14M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.69M	shares	Point-in-time
Accounts receivables, net	`AccountsReceivableNetCurrent`	$2.16M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.69M	shares	Point-in-time
Inventories	`InventoryNet`	$263.26K	USD	Point-in-time
Inventories	`InventoryNet`	$266.60K	USD	Point-in-time
Prepayments and other receivables	`OtherReceivablesNetCurrent`	$575.21K	USD	Point-in-time
Prepayments and other receivables	`OtherReceivablesNetCurrent`	$1.05M	USD	Point-in-time
Advances to suppliers	`Supplies`	$1.18M	USD	Point-in-time
Advances to suppliers	`Supplies`	$1.09M	USD	Point-in-time
Amount due from related party	`DueFromRelatedPartiesCurrent`	$110.24K	USD	Point-in-time
Amount due from related party	`DueFromRelatedPartiesCurrent`	$80.31K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.85M	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$836.42K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$758.53K	USD	Point-in-time
Long-term prepayments	`PrepaidExpenseNoncurrent`	-	USD	Point-in-time
Long-term prepayments	`PrepaidExpenseNoncurrent`	$31.50K	USD	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$5.41M	USD	Point-in-time
Operating lease right of use asset	`OperatingLeaseRightOfUseAsset`	$6.53M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$7.40M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$6.17M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$13.02M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$13.09M	USD	Point-in-time
Short-term loan	`ShortTermBorrowings`	$151.09K	USD	Point-in-time
Short-term loan	`ShortTermBorrowings`	$142.59K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.25M	USD	Point-in-time
Amount due to related parties	`DueToRelatedPartiesCurrent`	$3.69M	USD	Point-in-time
Amount due to related parties	`DueToRelatedPartiesCurrent`	$3.98M	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$2.70K	USD	Point-in-time
Advances from customers	`ContractWithCustomerLiabilityCurrent`	$2.38K	USD	Point-in-time
Accrued expenses and other payables	`AccruedLiabilitiesCurrent`	$1.45M	USD	Point-in-time
Accrued expenses and other payables	`AccruedLiabilitiesCurrent`	$2.10M	USD	Point-in-time
Operating lease liability current portion	`OperatingLeaseLiabilityCurrent`	$3.76M	USD	Point-in-time
Operating lease liability current portion	`OperatingLeaseLiabilityCurrent`	$3.61M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.39M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$2.77M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$1.80M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$13.16M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$12.89M	USD	Point-in-time
Common stock ($0.001 par value, 50,000,000 shares authorized, 26,693,004 shares issued and outstanding at both June 30 and March 31, 2022)	`CommonStockValue`	$26.69K	USD	Point-in-time
Common stock ($0.001 par value, 50,000,000 shares authorized, 26,693,004 shares issued and outstanding at both June 30 and March 31, 2022)	`CommonStockValue`	$26.69K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.82M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-6.76M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-6.66M	USD	Point-in-time
Statutory reserve	`StatutoryReserve`	$13.82K	USD	Point-in-time
Statutory reserve	`StatutoryReserve`	$13.82K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-170.98K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-65.83K	USD	Point-in-time
Total equity (deficit)	`StockholdersEquity`	$-81.50K	USD	Point-in-time
Total equity (deficit)	`StockholdersEquity`	$-71.37K	USD	Point-in-time
Total equity (deficit)	`StockholdersEquity`	$130.45K	USD	Point-in-time
Total equity (deficit)	`StockholdersEquity`	$-33.07K	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$13.02M	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$13.09M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.39M	USD	1 Quarter
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.29M	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$1.93M	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$3.70M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$583.40K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$456.68K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$5.64K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$46.39K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$460.31K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$404.94K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$506.70K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$410.58K	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$46.10K	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$76.70K	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$1.97K	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$3.24K	USD	1 Quarter
Interest expenses	`InterestExpense`	$2.23K	USD	1 Quarter
Interest expenses	`InterestExpense`	$2.46K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$51.08K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$13.24K	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$97.97K	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$89.67K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$10.72K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$1.29K	USD	1 Quarter
NET (LOSS) INCOME	`NetIncomeLoss`	$96.67K	USD	1 Quarter
NET (LOSS) INCOME	`NetIncomeLoss`	$78.95K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-30.52K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$105.15K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$48.43K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$201.82K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasic`	-	USD	1 Quarter
Weighted average number of shares outstanding Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	26.69M	shares	1 Quarter
Weighted average number of shares outstanding Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	26.15M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$96.67K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$78.95K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$33.99K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$35.88K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.03M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-27.22K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.34K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$137.89K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInPrepaidSupplies`	$-91.38K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInPrepaidSupplies`	$383.23K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$443.14K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$317.38K	USD	1 Quarter
Accounts payables	`IncreaseDecreaseInAccountsPayable`	$-83.53K	USD	1 Quarter
Accounts payables	`IncreaseDecreaseInAccountsPayable`	$1.38M	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$129.34K	USD	1 Quarter
Accrued expenses and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$549.88K	USD	1 Quarter
Advances from customers	`IncreaseDecreaseInContractWithCustomerLiability`	$-3.03K	USD	1 Quarter
Advances from customers	`IncreaseDecreaseInContractWithCustomerLiability`	$321.00	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.25M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$278.02K	USD	1 Quarter
Purchase of plant and equipment and other assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$104.23K	USD	1 Quarter
Purchase of plant and equipment and other assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-104.23K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds from related party borrowings	`ProceedsFromRelatedPartyDebt`	$1.29M	USD	1 Quarter
Proceeds from related party borrowings	`ProceedsFromRelatedPartyDebt`	$980.72K	USD	1 Quarter
Repayment of related party borrowings	`RepaymentsOfRelatedPartyDebt`	$806.99K	USD	1 Quarter
Repayment of related party borrowings	`RepaymentsOfRelatedPartyDebt`	$364.45K	USD	1 Quarter
Repayment of bank borrowings	`RepaymentsOfBankDebt`	$424.00	USD	1 Quarter
Repayment of bank borrowings	`RepaymentsOfBankDebt`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$615.85K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$485.96K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-868.94K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$893.87K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-52.16K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-3.97K	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$972.17K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.85M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.23M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.39M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$972.17K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.85M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.23M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.39M	USD	Point-in-time
Cash paid during the year for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid during the year for interest	`InterestPaidNet`	$1.94K	USD	1 Quarter
Cash paid during the year for income tax	`IncomeTaxesPaidNet`	$10.72K	USD	1 Quarter
Cash paid during the year for income tax	`IncomeTaxesPaidNet`	$1.29K	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$178.19K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-81.50K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-71.37K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$130.45K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-33.07K	USD	Point-in-time
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-30.52K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$105.15K	USD	1 Quarter
Net income for the period	`NetIncomeLoss`	$96.67K	USD	1 Quarter
Net income for the period	`NetIncomeLoss`	$78.95K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-81.50K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-71.37K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$130.45K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-33.07K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.