Ownership / Organic Agricultural Company Limited | Tables in SEC filings

OGAA Organic Agricultural Company Limited

Quarterly report

	For the Three Months Ended December 31,				For the Nine Months Ended December 31,
	2023		2022		2023		2022
Revenue	$	297,435	$	93,531	$	1,288,614	$	170,792
Cost of sales		213,847		83,514		880,535		146,276
Gross profit		83,588		10,017		408,079		24,516

Selling, general and administrative expenses		(32,326)		9,564		267,512		544,920
Operating income (loss)		115,914		453		140,567		(520,404)
Other income (loss)		-		(46)		17		2,435
Income (loss) before provision for income taxes		115,914		407		140,584		(517,969)
Provision for income taxes		1,826		-		1,826		-
Net income (loss) from continuing operations		114,088		407		138,758		(517,969)
Gain on the sale of discontinued operations, net of income taxes (Note 3)		-		-		-		68,359
(Loss) from discontinued operations, net of income taxes (Note 3)		-		-		-		(1)
Net income (loss)		114,088		407		138,758		(449,611)
Less: (loss) from discontinued operations attributable to non-controlling interests		-		-		-		-
Net income (loss) attributable to common shareholders	$	114,088	$	407	$	138,758	$	(449,611)

Amounts attributable to common shareholders:
Net income (loss) from continuing operations	$	114,088	$	407	$	138,758	$	(517,969)
Net income from discontinued operations		-		-		-		68,358
Net income (loss) attributable to common shareholders	$	114,088	$	407	$	138,758	$	(449,611)

Income (loss) per share – continuing operations – basic and diluted	$	0.00	$	0.00	$	0.00	$	(0.01)
Income (loss) per share discontinued operations – basic and diluted		0.00		0.00		0.00		0.00
Basic and diluted income (loss) per share	$	0.00	$	0.00	$	0.00	$	(0.01)
Weighted average number of shares outstanding- basic and diluted*		93,726,994		87,309,961		93,726,994		84,835,023

Other comprehensive income (loss):
Net income (loss)	$	114,088	$	407	$	138,758	$	(449,611)
Foreign currency translation adjustment		(60,220)		(74,897)		68,385		163,193
Comprehensive income (loss)		53,868		(74,490)		207,143		(286,418)
Less: comprehensive income attributable to non-controlling interests		-		-		-		3,672
Comprehensive income (loss) attributable to the common shareholders	$	53,868	$	(74,490)	$	207,143	$	(290,090)

	December 31,		March 31,
	2023		2023
	Unaudited
Assets
Current assets:
Cash	$	60,487	$	49,862
Accounts receivable		313,385		14,357
Due from related parties		2,284		324
Prepaid expenses		16,723		756
Inventories		146,324		149,757
Other receivables		25,060		22,533
Total current assets		564,263		237,589
Total assets	$	564,263	$	237,589

Liabilities and shareholders’ equity
Current liabilities:
Accounts payable and accrued expenses	$	15,671	$	61,469
Customer deposits		157,079		151,435
Due to related parties		25,846		726
Other payables		2,599		733
Total current liabilities		201,195		214,363
Total liabilities		201,195		214,363

Shareholders’ equity:
Preferred stock; $0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding at December 31, 2023 and March 31, 2023		-		-
Common stock; $0.001 par value, 274,000,000 shares authorized; 93,726,994 shares issued and outstanding at December 31, 2023 and March 31, 2023		93,727		93,727
Additional paid-in capital		5,153,407		5,153,407
Subscription receivable		(705,396)		(838,095)
(Deficit)		(4,221,111)		(4,359,869)
Other comprehensive income (loss)		42,441		(25,944)
Total shareholders’ equity of the Company		363,068		23,226
Non-controlling interest		-		-
Total shareholders’ equity		363,068		23,226
Total liabilities and shareholders’ equity	$	564,263	$	237,589

	December 31, 2023			December 31, 2022
	(Unaudited)			(Unaudited)
U.S. federal statutory income tax rate		21	%		21	%
U.S. valuation allowance		(21	)%		(21	)%
The Company’s effective tax rate		(0	)%		(0	)%

	December 31, 2023		March 31, 2023
	(Unaudited)
Shouhang	$	50,473	$	52,030
Beiqinhai		96,275		99,242
Others		10,331		163
Total customer deposits	$	157,079	$	151,435

	December 31, 2023		March 31, 2023
	(Unaudited)
Tianzhi	$	25,425		-
Shen Zhenai		421		511
Heilongjiang Chuangyi		-		215
	$	25,846	$	726

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