First America Resources Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>First America Resources Corp has filed its Q3 2024 10-Q report, detailing financial performance and corporate information.</b>

AI Summary

First America Resources Corp (FSTJ) filed a Quarterly Report (10-Q) with the SEC on May 16, 2024. First America Resources Corp filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on June 30. The filing covers the third quarter of fiscal year 2024. The company is incorporated in Nevada. The principal business address is in Morris, Illinois.

Why It Matters

For investors and stakeholders tracking First America Resources Corp, this filing contains several important signals. This filing provides investors with the latest quarterly financial data, allowing for an assessment of the company's performance and financial health. Understanding the company's reporting structure and fiscal year end is crucial for tracking its financial progress and comparing it to industry peers.

Risk Assessment

Risk Level: — First America Resources Corp shows moderate 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 10-Q filings for revenue trends, profitability, and any changes in financial condition.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly filing)
• 2024-05-16 — Filing Date (10-Q submission)
• 06-30 — Fiscal Year End (Annual reporting cycle)

Key Players & Entities

• First America Resources Corp (company) — Filer
• 2024-03-31 (date) — Period of report
• 2024-05-16 (date) — Filed as of date
• Morris, IL (location) — Business address
• Jian Li (person) — Officer/Director

FAQ

Industry Context

First America Resources Corp operates in the wholesale of electronic parts and equipment sector.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements.
2. Analyze any management discussion and analysis (MD&A) sections for insights into performance.
3. Track subsequent filings for year-over-year and quarter-over-quarter comparisons.

Year-Over-Year Comparison

This is the first 10-Q filing available in the provided data for the specified period.

Key Financial Figures

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

Filing Documents

• fstj_10q.htm (10-Q) — 450KB
• fstj_ex311.htm (EX-31.1) — 10KB
• fstj_ex321.htm (EX-32.1) — 4KB
• 0001477932-24-003060.txt (&nbsp;) — 1788KB
• fstj-20240331.xsd (EX-101.SCH) — 18KB
• fstj-20240331_lab.xml (EX-101.LAB) — 107KB
• fstj-20240331_cal.xml (EX-101.CAL) — 23KB
• fstj-20240331_pre.xml (EX-101.PRE) — 87KB
• fstj-20240331_def.xml (EX-101.DEF) — 29KB
• fstj_10q_htm.xml (XML) — 160KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements F-1 Item 2.

Management's Discussion and Analysis or Plan of Operation

Management's Discussion and Analysis or Plan of Operation. 3 Item 3. Quantitative and Qualitative Disclosure about Market Risk. 8 Item 4.

Controls and Procedures

Controls and Procedures. 8

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1. Legal Proceedings. 9 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 9 Item 3. Defaults Upon Senior Securities. 9 Item 4. Mine Safety Disclosures. 9 Item 5. Other Information. 9 Item 6. Exhibits. Exhibits 10 2 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, 2024 (unaudited) and June 30, 2023 (audited) F-2 F-3 F-4 F-5 Notes to Unaudited Financial Statements F-6 F-1 Table of Contents FIRST AMERICA RESOURCES CORPORATION BALANCE SHEET March 31, June 30, 2024 Unaudited 2023 Audited ASSETS Current assets: Cash and cash equivalents $ 43,006 $ 97,226 Prepaid Expense 25,000 Accounts Receivable $ - Total Current Assets 68,006 97,226 TOTAL ASSETS $ 68,006 $ 97,226 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 3,412 $ 100 Loan from officers 228,933 228,933 Total Current Liabilities 232,345 229,033 Total Liabilities 232,345 229,033 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 291,360 291,360 Accumulated deficit ( 463,663 ) ( 431,131 ) Total stockholders' deficit ( 164,339 ) ( 131,807 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 68,006 $ 97,226 See accompanying notes to financial statements. F-2 Table of Contents FIRST AMERICA RESOURCES CORPORATION Three Months Ended Nine Months Ended March 31, March 31, 2024 Unaudited 2023 Unaudited 2024 Unaudited 2023 Unaudited Revenues $ - $ - $ 3,920 $ - Cost of Goods Sold - - 13,369 - Gross Profit - - ( 9,449 ) - Operating Expenses: Selling, general and administrative expenses 7,400 2,822 23,083 14,068 Total Operating Expenses 7,400 2,822 23,083 14,068 Operating Loss ( 7,400 ) ( 2,822 ) ( 32,532 ) ( 14,068 ) Other in

Management's Discussion and Analysis or Plan of Operation

Item 2. Management's Discussion and Analysis or Plan of Operation. The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes, and other financial information included in this Form 10-Q. Our Management's Discussion and Analysis contains not only statements that are historical facts, but also statements that are forward-looking. Forward-looking statements are, by their very nature, uncertain and risky. These risks and uncertainties include international, national, and local general economic and market conditions; our ability to sustain, manage, or forecast growth; our ability to successfully make and integrate acquisitions; new product development and introduction; existing government regulations and changes in, or the failure to comply with, government regulations; adverse publicity; competition; the loss of significant customers or suppliers; fluctuations and difficulty in forecasting operating results; change in business strategy or development plans; business disruptions; the ability to attract and retain qualified personnel; the ability to protect technology; the risk of foreign currency exchange rate; and other risks that might be detailed from time to time in our filings with the Securities and Exchange Commission. Although the forward-looking statements in this Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by them. Consequently, and because forward-looking statements are inherently subject to risks and uncertainties, the actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. You are urged to carefully review and consider the various disclosures made by us in this report as we attempt to advise interested parties of the risks and factors that may affect our business, financial condition, and results of op

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View this 10-Q filing on SEC EDGAR