AB International Group Corp. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>AB International Group Corp. has filed its 10-Q report for the quarter ending February 29, 2024, detailing its financial status and operations.</b>

AI Summary

AB INTERNATIONAL GROUP CORP. (AERA) filed a Quarterly Report (10-Q) with the SEC on April 15, 2024. AB International Group Corp. filed a 10-Q report for the period ending February 29, 2024. The company is incorporated in Nevada and operates in the Patent Owners & Lessors industry. Its business and mailing address is located at 144 Main Street, Suite 1009, Mt. Kisco, NY 10549. The filing was made on April 15, 2024. The report covers the second quarter of fiscal year 2024.

Why It Matters

For investors and stakeholders tracking AB INTERNATIONAL GROUP CORP., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and position during the second quarter of its fiscal year. Understanding the details within this 10-Q is crucial for assessing the company's current health, operational progress, and potential future trajectory.

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 positive or negative events.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's operational performance and financial health.

Key Numbers

• 2024-02-29 — Period End Date (Conformed Period of Report)
• 2024-04-15 — Filing Date (Filed as of date)
• 2024 — Fiscal Year (Fiscal Year End)

Key Players & Entities

• AB INTERNATIONAL GROUP CORP. (company) — Filer name
• 0001663577-24-000113 (other) — Accession Number
• 2024-02-29 (date) — Conformed Period of Report
• 2024-04-15 (date) — Filed as of date
• 144 MAIN STREET SUITE 1009 (address) — Business Address
• MT. KISCO (location) — City in Business Address
• NY (location) — State in Business Address
• 10549 (postal_code) — ZIP in Business Address

FAQ

Industry Context

The company operates within the Patent Owners & Lessors sector, which involves the ownership and leasing of patents.

Regulatory Implications

As a publicly traded company, AB International Group Corp. is subject to SEC regulations and reporting requirements, including the filing of 10-Q forms.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and profitability.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Check for any disclosures regarding significant risks, legal proceedings, or changes in business strategy.

Key Dates

• 2024-02-29: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-15: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Filing Documents

• abqq10q2_022924.htm (10-Q) — 880KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 9KB
• ex32_1.htm (EX-32.1) — 4KB
• 0001663577-24-000113.txt (&nbsp;) — 4818KB
• abqq-20240229.xsd (EX-101.SCH) — 40KB
• abqq-20240229_cal.xml (EX-101.CAL) — 45KB
• abqq-20240229_def.xml (EX-101.DEF) — 155KB
• abqq-20240229_lab.xml (EX-101.LAB) — 271KB
• abqq-20240229_pre.xml (EX-101.PRE) — 237KB
• abqq10q2_022924_htm.xml (XML) — 730KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1:

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 8 Item 4:

Controls and Procedures

Controls and Procedures 9

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1:

Legal Proceedings

Legal Proceedings 10 Item 1A:

Risk Factors

Risk Factors 10 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 10 Item 3: Defaults Upon Senior Securities 10 Item 4: Mine Safety Disclosures 10 Item 5: Other Information 10 Item 6: Exhibits 10 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: F-1 Consolidated Balance Sheets as of February 29, 2024 and August 31, 2023 (unaudited); F-2 Consolidated Statements of Operations for the three and six months ended February 29, 2024 and February 28, 2023 (unaudited); F-3 Consolidated Statements of Changes in Stockholders' Equity for the three and six months ended February 29, 2024 and February 28, 2023 (unaudited); F-4 Consolidated Statements of Cash Flows for the six months ended February 29, 2024 and February 28, 2023 (unaudited); and F-5

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 3 Table of Contents AB INTERNATIONAL GROUP CORP. Consolidated Balance Sheets (Unaudited) February 29, August 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 33,665 $ 117,096 Prepaid expenses 30,000 — Total Current Assets 63,665 117,096 Property and equipment, net 6,038 8,254 Right of use operating lease assets, net 595,619 696,380 Intangible assets, net 1,078,417 1,455,110 Purchase deposits for intangible assets, non-current — 300,000 Security deposit 46,006 45,240 TOTAL ASSETS $ 1,789,745 $ 2,622,080 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 145,973 $ 156,763 Accounts payable and accrued liabilities - related party 6,388 6,388 Loan from related parties 319,551 748,285 Current portion of obligations under operating leases 244,066 211,507 Deferred revenue 82,600 — Total Current Liabilities 798,578 1,122,943 Obligations under operating leases, non-current 485,715 608,149 Total Liabilities 1,284,293 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 February 29, 2024 and August 31, 2023, respectively 100 100 Series B preferred stock, 0 and 20,000 shares issued and outstanding, as of February 29, 2024 and August 31, 2023, respectively — 20 Series C preferred stock, 0 and 174,421 shares issued and outstanding, as of February 29, 2024 and August 31, 2023, respectively — 175 Series D preferred stock, 0 and 0 shares issued and outstanding, as of February 29, 2024 and August 31, 2023, respectively — — Common stock, $ 0.001 par value, 10,000,000,000 shares authorized; 2,331,965,321 and 1,285,283,385 shares issued and outstanding, as of February 29, 2024 and August 31, 2023, respectively 2,331,965 1,

View Full Filing

View this 10-Q filing on SEC EDGAR