| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES Basis
of presentation The
accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United
States of America (“U.S. GAAP”). The consolidated financial statements include the financial statements of the Company, its
subsidiaries, its VIEs and its VIEs’ subsidiaries. All inter-company transactions and balances have been eliminated upon consolidation. Use of
estimates The
preparation of financial statements in conformity with U.S. GAAP requires to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the
reported amounts of revenues and expenses during the reporting period and accompanying notes, including allowance for doubtful accounts,
allowance for unamortized production content, the useful lives of property, plant and equipment and intangible assets, impairment of
long-lived assets, valuation allowance for deferred tax assets and revenue recognition. Actual results could differ from those estimates. Fair value
Measurement The
Company applies ASC Topic 820, Fair Value Measurements and Disclosures which defines fair value, establishes a framework for measuring
fair value and expands financial statement disclosure requirements for fair value measurements. ASC
Topic 820 defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability (an exit price)
on the measurement date in an orderly transaction between market participants in the principal or most advantageous market for the asset
or liability. ASC
Topic 820 specifies a hierarchy of valuation techniques, which is based on whether the inputs into the valuation technique are observable
or unobservable. The hierarchy is as follows: Level
1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level
2 inputs to the valuation methodology include quoted prices for similar assets and 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
3 inputs to the valuation methodology are unobservable and significant to the fair value. Unobservable inputs are valuation technique
inputs that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing an asset
or liability. Management
of the Company considers the carrying amount of cash and cash equivalents, restricted cash, accounts receivable, other receivables, short-term
bank loans, accounts payable, due to related parties, other payables and other taxes payable based on the short-term maturity of these
instruments to approximate their fair values because of their short-term nature. Cash and
cash equivalents Cash
and cash equivalents primarily consist of bank deposits, as well as highly liquid investments, with original maturities of three months
or less, which are unrestricted as to withdrawal and use. The Company maintains most of the bank accounts in the PRC. Restricted
cash Restricted
cash represents cash or cash equivalents at banks subject to withdrawal restrictions. As of December 31, 2023 and 2022, the Company had
restricted cash in bank accounts in the amount of $298 and $ nil Accounts
Receivable, net On
January 1, 2023, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments-Credit Losses
(Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), using the modified retrospective
transition method. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result
in more timely recognition of credit losses. Upon adoption, the Company changed the impairment model to utilize a forward-looking current
expected credit losses (CECL) model in place of the incurred loss methodology for financial instruments measured at amortized cost and
receivables resulting from the application of ASC 606, including contract assets. The adoption of the guidance had no impact on the allowance
for credit losses for accounts receivable. Prior
to the Company’s adoption of ASU 2016-13, accounts receivable are presented net of allowance for doubtful accounts. The Company
usually determines the adequacy of reserves for doubtful accounts based on individual account analysis and historical collection trends.
The Company maintains allowance for potential credit losses on accounts receivable. Management reviews the composition of accounts receivable
and analyses historical bad debt, customer concentrations, customer credit worthiness, current economic trends and changes in customer
payment patterns to estimate the allowance. Past due accounts are generally written off against the allowance for bad debts only after
all collection attempts have been exhausted and the potential for recovery is considered remote. After
the adoption of ASU 2016-13, The Company maintains an allowance for credit losses and records the allowance for credit losses as an offset
to accounts receivable and the estimated credit losses charged to the allowance is classified as “General and administrative expenses”
in the consolidated statements of income and comprehensive income. The Company assesses collectability by reviewing accounts receivable
on an individual basis because the Company had limited customers and each of them has difference characteristics, primarily based on
business line and geographical area. In determining the amount of the allowance for credit losses, the Company considers historical collectability
based on past due status, the age of the balances, credit quality of the Company’s customers based on ongoing credit evaluations,
current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect the
Company’s ability to collect from customers. Delinquent account balances are written-off against the allowance for doubtful accounts
after management has determined that the likelihood of collection is not probable. Unamortized
produced content Produced
content includes direct production costs, production overhead and acquisition costs and is stated at the lower of unamortized cost or
estimated fair value. Produced content also includes cash expenditures made to enter into arrangements with third parties to co-produce
certain of its productions. The
Company uses the individual-film-forecast-computation method and amortizes the produced content based on the ratio of current period
actual revenue (numerator) to estimated remaining unrecognized ultimate revenue as of the beginning of the fiscal year (denominator)
in accordance with ASC 926. Ultimate revenue estimates for the produced content are periodically reviewed and adjustments, if any, will
result in prospective changes to amortization rates. When estimates of total revenues and other events or changes in circumstances indicate
that a film or television series has a fair value that is less than its unamortized cost, a loss is recognized currently for the amount
by which the unamortized cost exceeds the film or television series’ fair value. For the years ended December 31, 2023, 2022 and
2021, $25,514, $128, $7,375 were amortized to the cost of sales, respectively. For the years ended December 31, 2023, 2022 and 2021,
the Company provided impairment of $112, $770 and $ nil Property,
plant and equipment, net Property,
plant and equipment are stated at cost less accumulated depreciation and depreciated on a straight-line basis over the estimated useful
lives of the assets. Cost represents the purchase price of the asset and other costs incurred to bring the asset into its existing use.
The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired
or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in
income/loss in the year of disposition. Estimated useful lives are as follows:
Estimated
Useful Life
Electric equipment 3 Years
Office equipment and furniture 3 - 5 Years
Leasehold improvement Shorter of useful life or lease term Intangible
asset, net Intangible
asset is stated at cost less accumulated amortization and amortized in a method which reflects the pattern in which the economic benefits
of the intangible asset are expected to be consumed or otherwise used up. The balance of intangible asset represents software related
to CHEERS App, a mobile application that allows its users to access its online store (e-Mall), video content, live streaming, and online
games. The software is acquired externally tailored to the Company’s requirements and is amortized straight-line over 7 years in
accordance with the way the Company estimates to generate economic benefits from such software. Impairment
of long-lived Assets In
accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate
that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss
when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured
as the difference between the asset’s estimated fair value and its book value. The Company did not record any impairment charge
for the years ended December 31, 2023, 2022 and 2021. Leases In
February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-02, Leases (Topic 842), which is effective
for annual reporting periods (including interim periods) beginning after December 15, 2018, and early adoption is permitted. The Company
has adopted the Topic 842 on January 1, 2019 using a modified retrospective approach reflecting the application of the standard to leases
existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. The
Company leases its offices, which are classified as operating leases in accordance with Topic 842. Under Topic 842, lessees are required
to recognize the following for all leases (with the exception of short-term leases) on the commencement date: (i) lease liability, which
is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (ii) right-of-use asset,
which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. At
the commencement date, the Company recognizes the lease liability at the present value of the lease payments not yet paid, discounted
using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing
rate for the same term as the underlying lease. The right-of-use asset is recognized initially at cost, which primarily comprises the
initial amount of the lease liability, plus any initial direct costs incurred, consisting mainly of brokerage commissions, less any lease
incentives received. All right-of-use assets are reviewed for impairment. No impairment for right-of-use lease assets as of December
31, 2023 and 2022. The
Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Contract
liabilities Contract
liabilities amounted to $130 and $147 at December 31, 2023 and 2022, respectively, which represent advance payment received from our
customers for goods or services that had not yet been provided. The
Company will recognize the advances as revenue when it has transferred control of the goods or services to which the advances relate,
and has no obligation under the contract to transfer additional goods or services. Value
Added Tax Horgos
and its China subsidiaries are subject to VAT for providing services and sales of products. The
amount of VAT liability is determined by applying the applicable tax rates to the invoiced amount of services provided and sales of products
(output VAT) less VAT paid on purchases made with the relevant supporting invoices (input VAT). The Company reports revenue net of PRC’s
VAT for all the periods presented in the consolidated statements of income and other comprehensive income. Revenue
Recognition The
Company early adopted the new revenue standard Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with
Customers, on January 1, 2017. The core principle of this new revenue standard is that a company should recognize revenue to depict the
transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled
in exchange for those goods or services. The following five steps are applied to achieve that core principle:
● Step 1: Identify the contract
with the customer
● Step 2: Identify the performance
obligations in the contract
● Step 3: Determine the transaction
price
● Step 4: Allocate the transaction
price to the performance obligations in the contract
● Step 5: Recognize revenue
when the company satisfies a performance obligation The
Company mainly offers and generates revenue from the copyright licensing of self-produced content, advertising and customized content
production and others. Revenue recognition policies are discussed as follows: Copyright
revenue The
Company self produces or coproduces TV series featuring lifestyle, culture and fashion, and licenses the copyright of the TV series on
an episode basis to the customer for broadcast over a period of time. Generally, the Company signs a contract with a customer which requires
the Company to deliver a series of episodes that are substantially the same and that have the same pattern of transfer to the customer.
Accordingly, the delivery of the series of episodes is defined as the only performance obligation in the contract. For
the TV series produced solely by the Company, the Company satisfies its performance obligation over time by measuring the progress toward
the delivery of the entire series of episodes which is made available to the licensee for exhibition after the license period has begun.
Therefore, the copyright revenue in a contract is recognized over time based on the progress of the number of episodes delivered. The
Company also coproduces TV series with other producers and licenses the copyright to third-party video broadcast platforms for broadcast.
For TV series produced by the Company with co-producers, the Company satisfies its performance obligations over time by the delivery
of the entire series of episodes to the customer, and requires the customer to pay consideration based on the number and the unit price
of valid subsequent views of the TV series that occur on a broadcast platform. Therefore, the copyright revenue is recognized when the
later of the valid subsequent view occurs or the performance obligation relating to the delivery of a number of episodes has been satisfied. Advertising
revenue The
Company generates revenue from sales of various forms of advertising on its TV series and streaming content by way of 1) advertisement
displays, or 2) the integration of promotion activities in TV series and content to be broadcast. Advertising contracts are signed to
establish the different contract prices for different advertising scenarios, consistent with the advertising period. The Company enters
into advertising contracts directly with the advertisers or the third-party advertising agencies that represent advertisers. For
the contracts that involve the third-party advertising agencies, the Company is principal as the Company is responsible for fulfilling
the promise of providing advertising services and has the discretion in establishing the price for the specified advertisement. Under
a framework contract, the Company receives separate purchase orders from advertising agencies before the broadcast. Accordingly, each
purchase order is identified as a separate performance obligation, containing a bundle of advertisements that are substantially the same
and that have the same pattern of transfer to the customer. Where collectability is reasonably assured, revenue is recognized monthly
over the service period of the purchase order. For
contracts signed directly with the advertisers, the Company commits to display a series of advertisements which are substantially the
same or similar in content and transfer pattern, and the display of the whole series of advertisements is identified as the single performance
obligation under the contract. The Company satisfies its performance obligations over time by measuring the progress toward the display
of the whole series of advertisements in a contract, and advertising revenue is recognized over time based on the number of advertisements
displayed. Payment
terms and conditions vary by contract types, and terms typically include a requirement for payment within a period from 6 to 9 months.
Both direct advertisers and third-party advertising agencies are generally billed at the end of the display period and require the Company
to issue VAT invoices in order to make their payments. Customized
content production revenue The
Company produces customized short streaming videos according to its customers’ requirement, and earns fixed fees based on delivery.
Revenue is recognized upon the delivery of short streaming videos. CHEERS
E-mall marketplace service revenue The
Company through CHEERS E-mall, an online e-commerce platform, enables third-party merchants to sell their products to consumers in China.
The Company charges fees for platform services to merchants for sales transactions completed on the Cheer E-Mall including but not limited
to products displaying, promotion and transaction settlement services. The Company does not take control of the products provided by
the merchants at any point in the time during the transactions and does not have latitude over pricing of the merchandise. Transaction
services fee is determined as the difference between the platform sales price and the settlement price with the merchants. CHEERS E-mall
marketplace service revenue is recognized at a point of time when the Company’s performance obligation to provide marketplace services
to the merchants are determined to have been completed under each sales transaction upon the consumers confirming the receipts of goods.
Payments for services are generally received before deliveries. The
Company provides coupons to consumers at our own discretion as incentives to promote CHEERS E-mall marketplace with validity usually
around or less than one week, which can only be used in future purchases of eligible merchandise offered on CHEERS E-mall to reduce purchase
price that are not specific to any merchant. Consumers are not customers of the Company, therefore incentives offered to consumers are
not considered consideration payable to customers. As the consumers are required to make future purchases of the merchants’ merchandise
to redeem these coupons, the Company does not accrue any expense for coupons when granted and recognizes the amounts of redeemed coupons
as marketing expenses when future purchases are made. Other
Revenues Other
revenue primarily consists of copyrights trading of purchased and produced TV-series and the sales of products on Taobao platform. For
copyright licensing of purchased and produced TV-series, the Company recognize revenue on net basis at a point of time upon the delivery
of master tape and authorization of broadcasting right. For sales of product, the company recognize revenue upon the transfer of products
according to the fixed price and production amount in sales orders. The
following table identifies the disaggregation of our revenue for the years ended December 31, 2023, 2022 and 2021, respectively:
For
the Years Ended December
31,
2023 2022 2021
Category of Revenue:
Advertising revenue $ 149,046 $ 152,086 $ 132,918
Customized content production revenue - - 5,326
Copyrights revenue 3,035 4,217 7,478
CHEERS e-Mall marketplace service revenue 232 306 6,807
Other revenue 14 470 483
Total $ 152,327 $ 157,079 $ 153,012
Timing of Revenue Recognition:
Services transferred over time $ 152,081 $ 156,303 $ 145,722
Services transferred at a point in time 232 306 6,807
Goods transferred at
a point in time 14 470 483
Total $ 152,327 $ 157,079 $ 153,012 The
Company applied a practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization
period would have been one year or less. The Company does not have any significant incremental costs of obtaining contracts with customers
incurred and/or costs incurred in fulfilling contracts with customers within the scope of ASC Topic 606, that shall be recognized as
an asset and amortized to expenses in a pattern that matches the timing of the revenue recognition of the related contract. Cost of
revenues Cost
of revenues consists primarily of production cost of TV series, short stream video and live streaming, labor cost and related benefits,
payments to various channel owners for broadcast, purchase cost of goods and copyrights and costs associated with the operation of the
Company’s online game and shopping platform CHERRS App such as bandwidth cost and amortization of intangible assets. Share-based
compensation The
Company periodically grants restricted ordinary shares to eligible employees and non-employee consultants. The Group accounts for share-based
awards issued to employees and non-employee consultants in accordance with ASC Topic 718 Compensation – Stock Compensation. The
share-based awards are measured at the grant date fair value of the awards and recognized as expenses a) immediately at grant date if
no vesting conditions are required; or b) using the straight-line method over the requisite service period, which is the vesting period. Share-based
compensation in relation to the restricted ordinary shares is measured based on the fair value of its ordinary shares on the date of
the grant. The Group recognizes the compensation cost, net of estimated forfeitures, over a vesting term for service-based restricted
shares. Forfeitures are estimated at the time of grant and revised in the subsequent periods if actual forfeitures differ from those
estimates. Income
Taxes The
Company accounts for income taxes using the asset/liability method prescribed by ASC 740, “Income Taxes.” Under this method,
deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and
liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company
records a valuation allowance to offset deferred tax assets if, based on the weight of available evidence, it is more-likely-than-not
that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is
recognized as income or loss in the period that includes the enactment date. The
provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes,” prescribe a more-likely-than not threshold for
consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This
interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred
income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. The
Company does not believe that there was any uncertain tax position at December 31, 2023 and 2022. The
Company’s operating subsidiaries in PRC are subject to examination by the relevant tax authorities. According to the PRC Tax Administration
and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the
taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment
of taxes is more than RMB 100,000 (approximately $14,100). In the case of transfer pricing issues, the statute of limitation is ten years.
There is no statute of limitation in the case of tax evasion. As of December 31, 2023, the tax years ended December 31, 2019 through
December 31, 2023 for the Company’s PRC subsidiaries remain open for statutory examination by PRC tax authorities. Non-controlling
Interest A
non-controlling interest in a subsidiary of the Company represents the portion of the equity (net assets) in the subsidiary not directly
or indirectly attributable to the Company. Non-controlling interests are presented as a separate component of equity on the consolidated
balance sheet and consolidated statements of income and comprehensive income are attributed to controlling and non-controlling interests. Earnings
per Share The
Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”).
ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income attributable
to ordinary shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS
but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, earn out shares, warrants
and stock options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common
shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the
calculation of diluted EPS. There is no anti-dilutive effect for the years ended December 31, 2023, 2022 and 2021. Related
Parties Parties
are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are
controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management,
members of the immediate families of principal owners of the Company and its management and other parties with which the Company may
deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one
of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all significant related
party transactions in Note 11. Concentration
and Credit Risk Financial
instruments that potentially subject the Company to concentrations of credit risk are cash and cash equivalents, and accounts receivable
arising from its normal business activities. The Company places its cash and cash equivalents in what it believes to be credit-worthy
financial institutions. The
Company’s operations are carried out in the PRC. Accordingly, our business, financial condition, and results of operations may
be influenced by the political, economic, and legal environment in the PRC, and by the general state of the economy of the PRC. Our
operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America.
The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary
measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. Financial instruments which
potentially subject us to concentrations of credit risk consist principally of cash and cash equivalent. All of our cash is maintained
with state-owned banks, commercial banks or third-party service provider certified by the People’s bank of China, such as Alipay,
within the PRC. Per PRC regulations, the maximum insured bank deposit amount is RMB500,000 (approximately $70,400) for each financial
institution. The Company’s total unprotected cash held in bank amounted to approximately $194,081 and $70,199 as of December 31,
2023 and 2022, respectively. The Company has not experienced any losses in such accounts and believes the Company is not exposed to any
risks on our cash held in bank accounts. Accounts
receivable are typically unsecured and derived from revenue earned from customers, thereby exposed to credit risk. The risk is mitigated
by the Company’s assessment of its customers’ creditworthiness and its ongoing monitoring of outstanding balances. The
Company’s sales are made to customers that are located primarily in China. The Company has a concentration of its revenues and
receivables with specific customers. For the year ended December 31, 2023, four customers accounted for 25%, 17%, 13% and 12% of the
Company’s total revenue, respectively. For the year ended December 31, 2022, four customers accounted for 21%, 18%, 18% and 15%
of the Company’s total revenue, respectively. For the year ended December 31, 2021, four customers accounted for 20%, 17%,16% and
12% of the Company’s total revenue, respectively. As
of December 31, 2023, six customers accounted for 23%, 16%, 15% 14% 12% and 11% of the net accounts receivable balance, respectively.
As of December 31, 2022, four customers accounted for 27%, 19%,11% and 10% of the net accounts receivable balance, respectively. As
of December 31, 2023, four vendors accounted for 50%, 21%, 12% and 11% of the accounts payable, respectively. As of December 31, 2022,
four vendors accounted for 30%, 22%, 17% and 10% of the accounts payable, respectively. Foreign
Currency Translation The
reporting currency of the Company is the U.S. dollar (“USD”). The functional currency of subsidiaries, VIEs and VIEs’
subsidiaries located in China is the Chinese Renminbi (“RMB”). For the entities whose functional currency is the RMB, result
of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the
unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating
to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances
on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into
U.S. dollars are included in determining comprehensive income/loss. Transactions denominated in foreign currencies are translated into
the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies
are translated into the functional currency at the exchange rates prevailing at the balance sheet date with any transaction gains and
losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included
in the results of operations as incurred. All
of the Company’s revenue and expense transactions are transacted in the functional currency of the operating subsidiaries. The
Company does not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected
to have, a material effect on the results of operations of the Company. The
consolidated balance sheet amounts, with the exception of equity, at December 31, 2023 and 2022 were translated at RMB 7.0999 to $1.00
and at RMB 6.9646 to $1.00, respectively. Equity accounts were stated at their historical rates. The average translation rates applied
to consolidated statements of income and cash flows for the years ended December 31, 2023, 2022 and 2021 were RMB 7.0809 to $1.00, RMB
6.7261 to $1.00 and RMB 6.4531 to $1.00, respectively. Recent
Accounting Pronouncements In
October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities
from Contracts with Customers (ASU 2021-08), which clarifies that an acquirer of a business should recognize and measure contract assets
and contract liabilities in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. The new amendments
are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. T |
