Tianci International, Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Tianci International, Inc. (CIIT) filed its quarterly report (10-Q) for the period ending January 31, 2024, detailing its financial status and business operations.</b>

AI Summary

Tianci International, Inc. (CIIT) filed a Quarterly Report (10-Q) with the SEC on February 27, 2024. Tianci International, Inc. filed a 10-Q report for the period ending January 31, 2024. The company's fiscal year ends on July 31. The filing was made on February 27, 2024. The company was formerly known as Steampunk Wizards, Inc. and FREEDOM PETROLEUM INC. The SIC code for the company is 3576 (COMPUTER COMMUNICATIONS EQUIPMENT).

Why It Matters

For investors and stakeholders tracking Tianci International, Inc., this filing contains several important signals. This filing provides investors with an update on Tianci International's financial performance and operational status for the most recent quarter. Understanding the details within this 10-Q is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — Tianci International, Inc. 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 shifts.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue trends and operational performance.

Key Numbers

• 2024-01-31 — Reporting Period End Date (The end date for the reporting period of the 10-Q filing.)
• 2024-02-27 — Filing Date (The date the 10-Q report was filed with the SEC.)
• 2015-07-02 — Name Change Date (Date when the company changed its name from Steampunk Wizards, Inc.)
• 2012-09-10 — Name Change Date (Date when the company changed its name from FREEDOM PETROLEUM INC.)

Key Players & Entities

• Tianci International, Inc. (company) — Filer of the 10-Q report.
• CIIT (company) — Ticker symbol for Tianci International, Inc.
• Steampunk Wizards, Inc. (company) — Former name of Tianci International, Inc.
• FREEDOM PETROLEUM INC. (company) — Former name of Tianci International, Inc.
• 3576 (dollar_amount) — Standard Industrial Classification code for COMPUTER COMMUNICATIONS EQUIPMENT.

FAQ

Industry Context

Tianci International, Inc. operates within the Computer Communications Equipment industry, as indicated by its SIC code.

Regulatory Implications

The filing is a standard Form 10-Q, which is a quarterly report required by the U.S. Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Examine any disclosures regarding business operations, risks, and legal proceedings.
3. Compare current quarter results to previous periods to identify trends.

Key Dates

• 2024-01-31: Quarterly Period End — End of the reporting period for the 10-Q.
• 2024-02-27: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing analyzed for Tianci International, Inc. in the current review cycle, so no direct comparison to a prior filing is available.

Filing Documents

• tianci_i10q-013124.htm (10-Q) — 717KB
• tianci_ex3101.htm (EX-31.1) — 7KB
• tianci_ex3102.htm (EX-31.2) — 7KB
• tianci_ex3201.htm (EX-32.1) — 3KB
• tianci_ex3202.htm (EX-32.2) — 3KB
• 0001683168-24-001192.txt (&nbsp;) — 4272KB
• ciit-20240131.xsd (EX-101.SCH) — 37KB
• ciit-20240131_cal.xml (EX-101.CAL) — 43KB
• ciit-20240131_def.xml (EX-101.DEF) — 162KB
• ciit-20240131_lab.xml (EX-101.LAB) — 276KB
• ciit-20240131_pre.xml (EX-101.PRE) — 258KB
• tianci_i10q-013124_htm.xml (XML) — 566KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited): 3 Condensed Consolidated Balance Sheets – January 31, 2024 (Unaudited) and July 31, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) - for the Three and Six Months Ended January 31, 2024 and 2023 4 Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) for the Three and Six Months Ended January 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) – for the Six Months Ended January 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 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 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 31

– FINANCIAL

PART I – FINANCIAL INFORMATION ITEM 1

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS TIANCI INTERNATIONAL, INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (EXPRESSED IN UNITED STATES DOLLARS) January 31, July 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash $ 799,377 $ 256,342 Accounts receivable 86,513 – Prepaid expense 250 1,750 Due from related party – 54,134 Total current assets 886,140 312,226 Other assets: Lease security deposit 1,656 1,542 Right-of-use asset – 6,436 Total non-current assets 1,656 7,978 TOTAL ASSETS $ 887,796 $ 320,204 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ – $ 779 Income taxes payable 38,270 26,298 Due to related parties 30,215 276,077 Lease liability - current – 4,368 Advances from customers – 29,070 Accrued liabilities and other payables 125,019 260,176 Total current liabilities 193,504 596,768 Lease liability - noncurrent – 2,068 Total liabilities 193,504 598,836 Commitments and contingencies – – Stockholders' equity (deficit): Series A Preferred stock, $ 0.0001 par value; 80,000 shares authorized; 0 and 80,000 shares issued and outstanding as of January 31, 2024 and July 31, 2023 – 8 Undesignated preferred stock, $ 0.0001 par value; 20,000,000 shares authorized; no shares issued and outstanding – – Common stock, $ 0.0001 par value, 100,000,000 shares authorized; 14,781,803 and 5,903,481 shares issued and outstanding as of January 31, 2024 and July 31, 2023, respectively 1,478 590 Additional paid-in capital 882,424 4,982 Accumulated deficit ( 211,172 ) ( 276,521 ) Total stockholders' equity (deficit) attributable to TIANCI INTERNATIONAL, INC. 672,730 ( 270,941 ) Non-controlling interest 21,562 ( 7,691 ) Total stockholders' equity (deficit) 694,292 ( 278,632 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 887,796 $ 320,204 The accompanying notes are an integral part of these unaudited interim condensed

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