Fuse Group Holding Inc. Files Quarterly Report for Period Ended December 31, 2023

TL;DR

<b>Fuse Group Holding Inc. has filed its quarterly report for the period ending December 31, 2023, confirming compliance with SEC filing requirements.</b>

AI Summary

FUSE GROUP HOLDING INC. (FUST) filed a Quarterly Report (10-Q) with the SEC on February 6, 2024. Fuse Group Holding Inc. filed a 10-Q report for the quarterly period ended December 31, 2023. The company is incorporated in Nevada and has its principal executive offices in Arcadia, CA. Fuse Group Holding Inc. was formerly known as Fuse Enterprises Inc., with a name change on March 9, 2015. The company has confirmed it has filed all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days. Fuse Group Holding Inc. has submitted all Interactive Data Files required by Rule 405 of Regulation S-T for the preceding 12 months.

Why It Matters

For investors and stakeholders tracking FUSE GROUP HOLDING INC., this filing contains several important signals. This filing provides an update on the company's financial performance and operational status for the most recent quarter. As a smaller reporting company, this 10-Q is crucial for investors to assess the company's financial health and future prospects.

Risk Assessment

Risk Level: low — FUSE GROUP HOLDING INC. shows low risk based on this filing. The filing indicates the company is a smaller reporting company and an emerging growth company, suggesting it may have limited financial resources and a less established market presence, but no specific negative financial data is presented in this header information.

Analyst Insight

Investors should review the full 10-Q filing to understand the company's financial performance, risks, and strategic initiatives.

Key Numbers

• 20231231 — Quarterly Period End Date (Report for the quarterly period ended December 31, 2023)
• 2024-02-06 — Filing Date (Filed as of date)
• 333-202948 — Commission File Number (SEC file number)
• 47-1017473 — IRS Employer Identification No. (IRS number)

Key Players & Entities

• FUSE GROUP HOLDING INC. (company) — Filer name
• FUST (company) — Ticker symbol
• 10-Q (document) — Filing type
• 2024-02-06T00:00:00.000Z (date) — Filing date
• 20231231 (date) — Period ended date
• 0001185185-24-000137 (accession_number) — Accession number
• Nevada (jurisdiction) — State of incorporation
• Arcadia, CA (location) — Business address city and state

Forward-Looking Statements

• FUSE GROUP HOLDING INC. will continue to meet its SEC filing obligations in the near future. (FUSE GROUP HOLDING INC.) — high confidence, target: 2024-09-30

FAQ

Industry Context

The company operates in the Metal Mining industry, SIC code 1000, and Energy & Transportation sector.

Regulatory Implications

The filing is a Form 10-Q, a quarterly report required by Section 13 or 15(d) of the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management discussion.
2. Analyze the company's operational segments and revenue streams.
3. Assess the company's liquidity and debt position.

Key Dates

• 2023-12-31: Quarterly Period End — End of the reporting period for the 10-Q
• 2024-02-06: Filing Date — Date the 10-Q was filed with the SEC

Year-Over-Year Comparison

This is the initial filing information for the period ending December 31, 2023. No prior period data is available in this header.

Key Financial Figures

• $0.001 — ass Share Outstanding Common Stock, $0.001 par value per share 66,370,866 TABLE

Filing Documents

• fusegroup20231231_10q.htm (10-Q) — 489KB
• ex_622028.htm (EX-31.1) — 12KB
• ex_622027.htm (EX-32.1) — 5KB
• 0001185185-24-000137.txt (&nbsp;) — 3189KB
• fsnt-20231231.xsd (EX-101.SCH) — 43KB
• fsnt-20231231_cal.xml (EX-101.CAL) — 30KB
• fsnt-20231231_def.xml (EX-101.DEF) — 159KB
• fsnt-20231231_lab.xml (EX-101.LAB) — 305KB
• fsnt-20231231_pre.xml (EX-101.PRE) — 165KB
• fusegroup20231231_10q_htm.xml (XML) — 314KB

Financial Statements

Financial Statements 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 17 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults upon Senior Securities 22 Item 4. Mine Safety Disclosure 22 Item 5. Other Information 22 Item 6. Exhibits 22

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements FUSE GROUP HOLDING INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) DECEMBER 31, 2023 SEPTEMBER 30, 2023 ASSETS CURRENT ASSETS Cash and equivalents $ 56,417 $ 26,588 Prepaid expenses 8,918 12,668 Total current assets 65,335 39,256 NON-CURRENT ASSETS Property and equipment, net - 455 Right-of-use asset, net 25,700 32,494 Total non-current assets 25,700 32,949 TOTAL ASSETS $ 91,035 $ 72,205 LIABILITIES AND STOCKHOLDERS ' EQUITY CURRENT LIABILITIES Other payables $ 11,301 $ 25,715 Accrued interest on convertible notes 760 382 Lease liability 27,200 29,128 Loan payable 1,954 1,936 Due to related party 139,523 35,973 Total current liabilities 180,738 93,134 NON-CURRENT LIABILITIES Convertible notes 50,000 50,000 Lease Liability - 5,038 Loan payable 101,198 101,790 Total non-current liabilities 151,198 156,828 TOTAL LIABILITIES 331,936 249,962 CONTINGENCIES AND COMMITMENTS STOCKHOLDERS' DEFICIT Common stock, par value $ 0.001 per share, 375,000,000 shares authorized; 66,370,866 shares issued and outstanding at December 31, 2023 and September 30, 2023 66,371 66,371 Additional paid-in capital 7,664,891 7,664,891 Accumulated deficit ( 7,972,163 ) ( 7,909,019 ) Total stockholders' deficit ( 240,901 ) ( 177,757 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 91,035 $ 72,205 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 Table of Contents FUSE GROUP HOLDING INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) FOR THE THREE MONTHS ENDED DECEMBER 31, 2023 2022 Revenue $ 20,000 $ - Cost of revenue - - Gross profit 20,000 - Operating expenses General and administrative 63,895 99,701 Consulting 15,500 15,500 Total operating expenses 79,395 115,201 Loss from operations ( 59,395 )

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Note 1 – Organization and Operations Fuse Group Holding Inc. (the "Company" or "Fuse Group" or "We") was incorporated under the laws of the State of Nevada on December 24, 2013. Fuse Group currently develops business opportunities in the mining and biotech areas. On December 6, 2016, the Company incorporated Fuse Processing, Inc. ("Processing") in the State of California. Processing seeks business opportunities in mining and is currently investigating potential mining targets in Asia and North America. Fuse Group is the sole shareholder of Processing. Fuse Group and Processing provide consulting services to mining industry clients to find mine acquisition targets within the parameters set by the clients, when the mine owner is considering selling its mining rights. The services of Fuse Group and Processing include due diligence on the potential mine seller and mine, such as ownership and whether the mine meets all operational requirements and/or is currently in operation. In March 2017, Processing acquired 100 % ownership of Fuse Trading Limited ("Trading") for HKD1 ($ 0.13 ). Trading had no operations prior to the acquisition by Processing. Trading was seeking mining-related business opportunities in Asia. On April 22, 2022, Processing entered into a Share Transfer Agreement to transfer 100 % ownership of Trading to an unrelated party for HKD1. There was no gain or loss recognized from the ownership transfer of Trading. Trading did not have any assets or business operations as of the date of transfer. On May 3, 2018, the Company incorporated Fuse Technology Inc. in the State of Nevada, which changed its name to Fuse Biotech Inc. on November 30, 2020. Fuse Group is the sole shareholder of Fuse Biotech Inc. ("Fuse Biotech"). Fuse Biotech seeks business opportunities in the biotech area. On April 29, 2019, the Board of Directors of the Company approved an amendment to the Company's Articles of Incorporat

View Full Filing

View this 10-Q filing on SEC EDGAR