First America Resources Corp Files 10-Q/A for Period Ending March 31, 2023

TL;DR

<b>First America Resources Corp has filed an amended 10-Q for the period ending March 31, 2023, providing updated financial and operational information.</b>

AI Summary

First America Resources Corp (FSTJ) filed a Amended Quarterly Report (10-Q/A) with the SEC on March 6, 2024. Filing is an amended 10-Q for the period ending March 31, 2023. The company was formerly known as GOLDEN OASIS NEW ENERGY GROUP, INC. Incorporated in Nevada (NV). Business and mailing address is 1000 E. ARMSTRONG ST., MORRIS, IL 60450. Standard Industrial Classification is Wholesale-Electronic Parts & Equipment, NEC [5065].

Why It Matters

For investors and stakeholders tracking First America Resources Corp, this filing contains several important signals. This amended filing indicates a need for correction or supplementation of previously submitted information, which could impact investor understanding of the company's financial health and operations. The SIC code suggests the company operates in the wholesale electronic parts and equipment sector, an industry subject to supply chain dynamics and technological obsolescence.

Risk Assessment

Risk Level: low — First America Resources Corp shows low risk based on this filing. The filing is a 10-Q/A, indicating previous submissions may have contained errors or omissions, but the content itself does not reveal immediate financial distress or high operational risk.

Analyst Insight

Review the specific amendments in the 10-Q/A to understand the nature of the corrections and their potential impact on the company's financial reporting.

Key Numbers

• 2023-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-03-06 — Filing Date (FILED AS OF DATE)
• 0630 — Fiscal Year End (FISCAL YEAR END)
• 5065 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• First America Resources Corp (company) — FILER
• GOLDEN OASIS NEW ENERGY GROUP, INC. (company) — FORMER COMPANY
• NV (location) — STATE OF INCORPORATION
• MORRIS (location) — CITY
• IL (location) — STATE
• Jian Li (person) — Officer/Director
• Keming Li (person) — Officer/Director

FAQ

Industry Context

The company operates in the wholesale trade sector, specifically focusing on electronic parts and equipment. This industry is characterized by rapid technological changes and global supply chain dependencies.

Regulatory Implications

As a publicly traded company, First America Resources Corp is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Investigate the specific reasons for the 10-Q/A filing and the nature of the amendments made.
2. Research the company's financial performance and operational status within the electronic parts wholesale industry.
3. Monitor future SEC filings for any further updates or disclosures from First America Resources Corp.

Key Dates

• 2024-03-06: Filing Date — Date the 10-Q/A was filed.
• 2023-03-31: Reporting Period End — End date of the financial period covered by the 10-Q/A.

Glossary

10-Q/A

An amended quarterly report filed with the SEC, used to correct or supplement information in a previously filed 10-Q. (Indicates that the company is updating previously reported financial information.)

SIC Code

Standard Industrial Classification code used to identify industries. (Provides insight into the company's primary business activity.)

Year-Over-Year Comparison

This is an amended filing (10-Q/A), suggesting that the previous filing for the period ending March 31, 2023, required corrections or additional information.

Key Financial Figures

• $250,000 — wner: Value Trade, LLC Current Value: $250,000 Current Mortgage Debt: Zero We are
• $100,500 — company has received a cash infusion of $100,500 from its President, Mr. Jian Li to full

Filing Documents

• fstj_10qa.htm (10-Q/A) — 435KB
• fstj_ex311.htm (EX-31.1) — 10KB
• fstj_ex321.htm (EX-32.1) — 4KB
• 0001477932-24-001067.txt (&nbsp;) — 1749KB
• fstj-20230331.xsd (EX-101.SCH) — 18KB
• fstj-20230331_lab.xml (EX-101.LAB) — 104KB
• fstj-20230331_cal.xml (EX-101.CAL) — 21KB
• fstj-20230331_pre.xml (EX-101.PRE) — 87KB
• fstj-20230331_def.xml (EX-101.DEF) — 31KB
• fstj_10qa_htm.xml (XML) — 161KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 4 Item 2.

Management's Discussion and Analysis or Plan of Operation

Management's Discussion and Analysis or Plan of Operation. 15 Item 3. Quantitative and Qualitative Disclosure about Market Risk. 20 Item 4.

Controls and Procedures

Controls and Procedures. 20

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1. Legal Proceedings. 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 21 Item 3. Defaults Upon Senior Securities. 21 Item 4. Mine Safety Disclosures. 21 Item 5. Other Information. 21 Item 6. Exhibits. Exhibits 22 3 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

- FINANCIAL STATEMENTS

ITEM 1 - FINANCIAL STATEMENTS First America Resources Corporation

Financial Statements (Unaudited)

Financial Statements (Unaudited) Contents Balance Sheet- March 31, 2023 (unaudited) and June 30, 2022 (audited) 5 6 7 8 Notes to Unaudited Financial Statements 9 4 Table of Contents FIRST AMERICA RESOURCES CORPORATION BALANCE SHEET (UNAUDITED) March 31, June 30, 2023 2022 ASSETS Current assets: Cash and cash equivalents $ 102,378 $ 15,847 Total Current Assets 102,378 15,847 TOTAL ASSETS $ 102,378 $ 15,847 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 199 $ 100 Loan from officers 228,933 228,933 Total Current Liabilities 229,132 229,033 Total Liabilities 229,132 229,033 Stockholders' Deficit: Common stock, $ 0.001 par value; 500,000,000 shares authorized; 7,964,090 shares issued and outstanding 7,964 7,964 Additional paid-in capital 291,360 190,860 Accumulated deficit ( 426,078 ) ( 412,010 ) Total stockholders' deficit ( 126,754 ) ( 213,186 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 102,378 $ 15,847 See accompanying notes to financial statements. 5 Table of Contents FIRST AMERICA RESOURCES CORPORATION (UNAUDITED) Three Months Ended Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Revenues $ - $ - $ - $ - Cost of Goods Sold - - - - Gross Profit - - - - Operating Expenses: Selling, general and administrative expenses 2,822 1,700 14,068 12,873 Total Operating Expenses 2,822 1,700 14,068 12,873 Operating Loss ( 2,822 ) ( 1,700 ) ( 14,068 ) ( 12,873 ) Other income Investment income - - - - Total Other Income - - - - Loss before income taxes ( 2,822 ) ( 1,700 )

View Full Filing

View this 10-Q/A filing on SEC EDGAR