AB International Group Corp. Files 10-Q for Q1 2024

TL;DR

<b>AB International Group Corp. files its Q1 2024 10-Q report</b>, detailing financial information for the period ending November 30, 2023.

AI Summary

AB INTERNATIONAL GROUP CORP. (AERA) filed a Quarterly Report (10-Q) with the SEC on January 16, 2024. Filing covers the first quarter of fiscal year 2024, ending November 30, 2023. Company is AB International Group Corp., incorporated in Nevada. Business and mailing address located at 144 Main Street, Suite 1009, Mt. Kisco, NY 10549. Fiscal year end is August 31. SIC code is 6794 (Patent Owners & Lessors).

Why It Matters

For investors and stakeholders tracking AB INTERNATIONAL GROUP CORP., this filing contains several important signals. This filing provides an update on the company's financial performance and position for the first quarter of its fiscal year. Investors can use this report to assess the company's operational status, asset base, and any changes in its capital structure.

Risk Assessment

Risk Level: low — AB INTERNATIONAL GROUP CORP. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate indicators of significant risk or opportunity.

Analyst Insight

Monitor future filings for revenue growth and operational segment performance, particularly in areas like NFT platforms and copyright sales.

Key Numbers

• 2023-11-30 — Period End Date (Conformed period of report)
• 2024-01-16 — Filing Date (Filed as of date)
• 0831 — Fiscal Year End (Fiscal year end)
• 6794 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• AB INTERNATIONAL GROUP CORP. (company) — Filer name
• 144 MAIN STREET (address) — Business and mailing address
• MT. KISCO (location) — Business and mailing address city
• NY (location) — Business and mailing address state
• 10549 (zip_code) — Business and mailing address zip
• NV (location) — State of incorporation
• 20231130 (date) — Conformed period of report
• 20240116 (date) — Filed as of date

Forward-Looking Statements

• AB International Group Corp. will likely provide more detailed financial figures regarding its preferred and common stock changes in future filings. (AB INTERNATIONAL GROUP CORP.) — medium confidence, target: 2024-05-15

FAQ

Industry Context

The company operates within the patent owners and lessors industry, with a focus on real estate and construction.

Regulatory Implications

This is a standard 10-Q filing under the Securities Exchange Act of 1934, requiring regular disclosure of financial information.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management discussion.
2. Track segment performance for Furniture, Appliances, Copyrights, NFT Platform, and Embedded Marketing Services in future filings.
3. Analyze changes in equity structure, including preferred stock classes A, B, C, and D.

Key Dates

• 2023-11-30: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-01-16: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing available in the provided data for AB International Group Corp.

Filing Documents

• abqq10q_113023.htm (10-Q) — 798KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 9KB
• ex32_1.htm (EX-32.1) — 4KB
• 0001663577-24-000009.txt (&nbsp;) — 4591KB
• abqq-20231130.xsd (EX-101.SCH) — 41KB
• abqq-20231130_cal.xml (EX-101.CAL) — 45KB
• abqq-20231130_def.xml (EX-101.DEF) — 161KB
• abqq-20231130_lab.xml (EX-101.LAB) — 278KB
• abqq-20231130_pre.xml (EX-101.PRE) — 244KB
• abqq10q_113023_htm.xml (XML) — 629KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Item 2:

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 9 Item 4:

Controls and Procedures

Controls and Procedures 9 PART II – OTHER INFORMATION Item 1:

Legal Proceedings

Legal Proceedings 11 Item 1A:

Risk Factors

Risk Factors 11 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 11 Item 3: Defaults Upon Senior Securities 11 Item 4: Mine Safety Disclosures 11 Item 5: Other Information 11 Item 6: Exhibits 11 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Our unaudited consolidated

financial statements included in this Form 10-Q are as follows

financial statements included in this Form 10-Q are as follows: F-1 Consolidated Balance Sheets as of November 30, 2023 and August 31, 2023 (unaudited); F-2 Consolidated Statements of Operations for the three months ended November 30, 2023 and 2022 (unaudited); F-3 Consolidated Statements of Changes in Stockholders' Equity for the three months ended November 30, 2023 and 2022 (unaudited); F-4 Consolidated Statements of Cash Flows for the three months ended November 30, 2023 and 2022 (unaudited); and F-5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (unaudited) 3 Table of Contents AB INTERNATIONAL GROUP CORP. Consolidated Balance Sheets (Unaudited) November 30, August 31, 2023 2023 ASSETS Current Assets Cash and cash equivalents $ 261,087 $ 117,096 Accounts receivable 57,000 — Total Current Assets 318,087 117,096 Property and equipment, net 7,146 8,254 Right of use operating lease assets, net 646,034 696,380 Intangible assets, net 1,639,090 1,455,110 Purchase deposits for intangible assets, non-current — 300,000 Security deposit 46,006 45,240 TOTAL ASSETS $ 2,656,363 $ 2,622,080 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 335,348 $ 156,763 Accounts payable and accrued liabilities - related party 6,388 6,388 Loan from related parties 543,266 748,285 Current portion of obligations under operating leases 230,712 211,507 Total Current Liabilities 1,115,714 1,122,943 Obligations under operating leases, non-current 547,182 608,149 Total Liabilities 1,662,896 1,731,092 Stockholders' Equity Preferred stock, $ 0.001 par value, 10,000,000 preferred shares authorized; Series A preferred stock, 100,000 and 100,000 shares issued and outstanding, as of November 30, 2023 and August 31, 2023, respectively 100 100 Series B preferred stock, 20,000 and 20,000 shares issued and outstanding, as of November 30, 2023 and August 31, 2023, respectively 20 20 Series C preferred stock, 0 and 174,421 shares issued and outstanding, as of November 30, 2023 and August 31, 2023, respectively — 175 Series D preferred stock, 0 and 0 shares issued and outstanding, as of November 30, 2023 and August 31, 2023, respectively — — Common stock, $ 0.001 par value, 10,000,000,000 shares authorized; 2,566,965,321 and 1,285,283,385 shares issued and outstanding, as of November 30, 2023 and August 31, 2023, respectively 2,566,965 1,285,283 Additio

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