Ownership / SSHT S&T Group Ltd. | Tables in SEC filings

SSHT SSHT S&T Group Ltd.

14 Nov 24

Quarterly report

3:31pm

SSHT S&T Group Ltd. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME(LOSS) FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 (UNAUDITED) (CURRENCY EXPRESSED IN UNITED STATES DOLLARS (“US$”), EXCEPT FOR NUMBER OF SHARES)


	Three months ended September 30				Nine months ended September 30
	2024		2023		2024		2023
	US$		US$		US$		US$
Net revenues		74,278		42,346		155,957		105,082
Gross profit		74,278		42,346		155,957		105,082

Operating expenses:
General and administrative expenses		(35,467)		(55,570)		(98,152)		(166,810)
Total operating expenses		(35,467)		(55,570)		(98,152)		(166,810)
(Loss) income from operations		38,811		(13,224)		57,805		(61,728)
Interest income (expense), net		11			11
Bank charge		(164)				(164)
Other income (expenses),net		58			58
(Loss) income before income taxes		38,716		(13,224)		57,710		(61,728)
Income tax expenses
Net (loss) income		38,716		(13,224)		57,710		(61,728)
Net (loss) income attributable to ordinary shareholders		38,716		(13,224)		57,710		(61,728)

Other comprehensive (loss) income
Foreign currency translation adjustments, net of tax of nil		549		396		963		1,338

Comprehensive (loss) income attributable to SSHT S&T Group Ltd.		39,265		(12,828)		58,673		(60,390)

Total comprehensive (loss) income attributable to ordinary shares of SSHT S&T Group Ltd.		39,265		(12,828)		58,673		(60,390)

Net loss per ordinary share:
Basic and diluted		0.0004		(0.0001)		0.0005		(0.0006)

Weighted average shares used in calculating net loss per ordinary share:
Basic and diluted		109,903,473		109,903,473		109,903,473		109,903,473


	Ordinary shares				Additional paid-in capital		Accumulated deficit		Accumulated other comprehensive Income (Loss)		Total shareholders’ equity (deficit)
	Shares		US$		US$		US$		US$		US$
Balance at December 31, 2022		109,903,473		109,903		2,363,962		(2,533,986)		2,317		(57,804)
Net loss				-		-		(22,592)		-		(22,592)
Balance at March 31, 2023		109,903,473		109,903		2,363,962		(2,556,578)		2,317		(80,396)
Net loss				-		-		(25,912)		-		(25,912)
Balance at June 30, 2023		109,903,473		109,903		2,363,962		(2,582,490)		2,317		(106,308)
Net loss				-		-		(13,224)		-		(13,224)
Foreign currency translation adjustments										1,338		1,338
Related Party Loan Waiver						81,823				-		81,823
Balance at September 30, 2023		109,903,473		109,903		2,445,785		(2,595,714)		3,655		(36,371)


	For the Nine Months Ended September 30
	2024		2023
	US$		US$
Cash flows from operating activities:
Net (Loss) income		57,710		(61,728)
Adjustments to reconcile net loss to net cash used in operating activities:
Changes in assets and liabilities:
Accounts receivable		24,775		1,450
Due from related companies		(31,881)		-
Accounts payable		(20,840)		40,304
Amounts due to a related party		(44,959)		-
Salary and welfare payable		12,229		37,516
Accrued expenses and other payables		2,860		-
Net cash provided by operating activities		(106)		(22,762)

Effect of exchange rate changes on cash, cash equivalents		94		1,338

Net increase / (decrease) in cash, cash equivalents		(13)		(21,424)
Cash, cash equivalents at beginning of year		8,218		22,569
Cash, cash equivalents at end of year		8,205		1,145

Supplemental disclosure of cash flow information:
Income taxes paid

Non-cash investing and financing activities:
Common stock issued for services and a reduction in related party debt
Common stock issued to acquire WHL


	As of September 30,		As of December 31,
	2024		2023
	US$		US$
ASSETS
Current assets:
Cash and cash equivalents		8,205		8,218
Accounts receivable, net		-		25,116
Due from related companies (Note 4)		41,724		8,920
Total current assets		49,929		42,254
TOTAL ASSETS		49,929		42,254

LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities
Accounts payable		4,275		25,352
Amounts due to a related party (Note 4)		84,491		130,094
Other current liabilities		33,208		17,526
Total current liabilities		121,974		172,972
TOTAL LIABILITIES		121,974		172,972

Shareholders’ deficit:
Common stock, par value $0.001,1,000,000,000 shares authorized; 109,903,473 and 109,903,473 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively (Note 5)		109,903		109,903
Additional paid-in capital		2,363,962		2,363,962
Accumulated deficit		(2,550,022)		(2,607,732)
Accumulated other comprehensive income (loss)		4,112		3,149
Total shareholders’ deficit		(72,045)		(130,718)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT		49,929		42,254

	Ordinary shares				Additional paid-in capital		Accumulated deficit		Accumulated other comprehensive Income (Loss)		Total shareholders’ equity (deficit)
	Shares		US$		US$		US$		US$		US$
Balance at December 31, 2023		109,903,473		109,903		2,363,962		(2,607,732)		3,149		(130,718)
Net loss				-		-		(6,285)		-		(6,285)
Foreign currency translation adjustments										924		924
Related Party Loan Waiver						81,823						81,823
Balance at March 31, 2024		109,903,473		109,903		2,445,785		(2,614,017)		4,073		(54,256)
Net loss				-		-		25,279		-		25,279
Foreign currency translation adjustments										(510)		(510)
Related Party Loan Waiver						(81,823)						(81,823)
Balance at June 30, 2024		109,903,473		109,903		2,363,962		(2,588,738)		3,563		(111,310)
Net income(loss)				-		-		38,716		-		38,716
Foreign currency translation adjustments, net of tax										549		549
Balance at September 30, 2024		109,903,473		109,903		2,363,962		(2,550,022)		4,112		(72,045)

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