AB International Group Corp. Files Q3 2024 10-Q

Ticker: AERA · Form: 10-Q · Filed: Jul 15, 2024 · CIK: 1605331

Sentiment: neutral

Topics: 10-Q, financials, preferred-stock

TL;DR

AB International Group Corp. 10-Q filed for May 31, 2024. Shows preferred and common stock data.

AI Summary

AB International Group Corp. filed its quarterly report for the period ending May 31, 2024. The company, incorporated in Nevada with its principal business address in Mt. Kisco, NY, operates in the Patent Owners & Lessors sector. The filing details financial data for various preferred stock classes (A, B, C, D) and common stock for the periods ending May 31, 2024, and August 31, 2023.

Why It Matters

This filing provides investors with an update on AB International Group Corp.'s financial position and performance as of May 31, 2024, crucial for assessing the company's health and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard 10-Q, but the company's specific financial performance and operational details are not fully elaborated in this header-level data, requiring a deeper dive into the full report for a comprehensive risk assessment.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of AB International Group Corp. according to this filing?

AB International Group Corp. is classified under the Standard Industrial Classification code 6794 as 'PATENT OWNERS & LESSORS'.

In which state is AB International Group Corp. incorporated?

The company is incorporated in Nevada (NV).

What is the business address of AB International Group Corp.?

The business address is 144 MAIN STREET, SUITE 1009, MT. KISCO, NY 10549.

What period does this 10-Q filing cover?

This Form 10-Q covers the period ending May 31, 2024.

What types of stock are specifically mentioned in the filing data?

The filing data references Preferred Class A, Preferred Class B, Preferred Class C, Preferred Class D, and Common Stock.

Filing Stats: 4,543 words · 18 min read · ~15 pages · Grade level 18.7 · Accepted 2024-07-15 12:16:55

Filing Documents

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 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

financial statements included in this Form 10-Q are as follows: F-1 Consolidated Balance Sheets as of May 31, 2024 and August 31, 2023 (unaudited); F-2 Consolidated Statements of Operations for the three and nine months ended May 31, 2024 and 2023 (unaudited); F-3 Consolidated Statements of Changes in Stockholders' Equity for the three and nine months ended May 31, 2024 and 2023 (unaudited); F-4 Consolidated Statements of Cash Flows for the nine months ended May 31, 2024 and 2023 (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) May 31, August 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 165,428 $ 117,096 Accounts receivable 254,720 — Total Current Assets 420,148 117,096 Property and equipment, net 4,929 8,254 Right of use operating lease assets, net 545,113 696,380 Intangible assets, net 709,410 1,455,110 Purchase deposits for intangible assets, non-current 30,000 300,000 Security deposit 46,006 45,240 TOTAL ASSETS $ 1,755,606 $ 2,622,080 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 124,268 $ 156,763 Accounts payable and accrued liabilities - related party 6,388 6,388 Loan from related parties 286,679 748,285 Current portion of obligations under operating leases 245,665 211,507 Deferred revenue 25,600 — Total Current Liabilities 688,600 1,122,943 Obligations under operating leases, non-current 423,350 608,149 Total Liabilities 1,111,950 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 May 31, 2024 and August 31, 2023, respectively 100 100 Series B preferred stock, 0 and 20,000 shares issued and outstanding, as of May 31, 2024 and August 31, 2023, respectively — 20 Series C preferred stock, 0 and 174,421 shares issued and outstanding, as of May 31, 2024 and August 31, 2023, respectively — 175 Series D preferred stock, 0 and 0 shares issued and outstanding, as of May 31, 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 May 31, 2024 and August 31, 2023, respectively 2,331,965 1,285,283 Additional

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