Next Meats Holdings Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Next Meats Holdings, Inc. has filed its Q3 2024 10-Q report, detailing financial performance up to January 31, 2024.</b>

AI Summary

Next Meats Holdings, Inc. (NXMH) filed a Quarterly Report (10-Q) with the SEC on March 25, 2024. The filing is a 10-Q report for Next Meats Holdings, Inc. for the period ending January 31, 2024. The company's fiscal year ends on April 30. The filing was submitted on March 25, 2024. The company was formerly known as Turnkey Solutions, Inc., with a name change on May 7, 2020. The filing includes financial data for various periods, including Q3 2024.

Why It Matters

For investors and stakeholders tracking Next Meats Holdings, Inc., this filing contains several important signals. This filing provides investors with the latest quarterly financial performance and operational updates for Next Meats Holdings, Inc. Understanding the details within this 10-Q is crucial for assessing the company's financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: low — Next Meats Holdings, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative financial disclosures that would indicate high risk.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2024-01-31 — Period End Date (Conformed period of report)
• 2024-03-25 — Filing Date (Date the report was filed)
• 04-30 — Fiscal Year End (Company's fiscal year end date)

Key Players & Entities

• Next Meats Holdings, Inc. (company) — Filer name
• 0001811530 (company) — Central Index Key
• Turnkey Solutions, Inc. (company) — Former company name
• 20200507 (date) — Date of name change
• 20240131 (date) — Conformed period of report
• 20240325 (date) — Filed as of date

FAQ

Industry Context

Next Meats Holdings operates in the food industry, focusing on plant-based meat alternatives.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and profitability trends.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-01-31: Period End Date — End of the reporting quarter
• 2024-03-25: Filing Date — Date the 10-Q was officially filed with the SEC

Year-Over-Year Comparison

This is the 10-Q filing for the period ending January 31, 2024. Previous filings would include reports for earlier quarters and fiscal years.

Key Financial Figures

• $0.001 — he Registrant's common stock, par value $0.001 per share, issued and outstanding. As o
• $292,454 — 4 and April 30, 2023 were $ 40,000 and $292,454, respectively. Accounts Receivable an
• $ — rrency is not US$ are translated into US$, using the exchange rate on the balance
• $1 — he local currency of the Company into US$1 has been made at the following exchange
• $0 — nuary 31, 2024 and January 31, 2023 was $0 for both periods. Recently Issued Acc
• $352,623 — ths ended January 31, 2024 decreased by $352,623 or 32.27% as compared to the nine month

Filing Documents

• nxmh10q324o.htm (10-Q) — 534KB
• ex31nxmh.htm (EX-31) — 12KB
• ex32_nxmh.htm (EX-32) — 7KB
• image_031.jpg (GRAPHIC) — 20KB
• 0001599916-24-000091.txt (&nbsp;) — 2429KB
• nxmh-20240131.xsd (EX-101.SCH) — 29KB
• nxmh-20240131_cal.xml (EX-101.CAL) — 13KB
• nxmh-20240131_def.xml (EX-101.DEF) — 25KB
• nxmh-20240131_lab.xml (EX-101.LAB) — 153KB
• nxmh-20240131_pre.xml (EX-101.PRE) — 122KB
• nxmh10q324o_htm.xml (XML) — 242KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS F1 CONDENSED CONSOLIDATED BALANCE SHEETS as of January 31, 2024 (unaudited) and aPRIL 30, 2023 F1 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE AND NINE MONTHS ENDED January 31, 2024 AND JANUARY 31, 2023 (UnAUDITED) F2 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) FOR THE PERIOD APRIL 30, 2023 TO JANUARY 31, 2024 AND FOR THE PERIOD APRIL 30, 2022 TO JANUARY 31, 2023 (UNAUDITED) F3 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED January 31, 2024 and JANUARY 31, 2023 (uNAUDITED) F4 NOTES TO THE UNAUDITED FINANCIAL STATEMENTS F5-F6 ITEM 2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS 3 ITEM 3

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 4 ITEM 4 CONTROLS AND PROCEDURES 5

-OTHER INFORMATION

PART II-OTHER INFORMATION ITEM 1

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 6 ITEM 1A

RISK FACTORS

RISK FACTORS ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 6 ITEM 3 DEFAULTS UPON SENIOR SECURITIES 6 ITEM 4 MINE SAFETY DISCLOSURES 6 ITEM 5 OTHER INFORMATION 6 ITEM 6 EXHIBITS 6

SIGNATURES

SIGNATURES 7 -2- Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1 FINANCIAL NEXT MEATS HOLDINGS, INC. CONDENSED CONS OLIDATED BALANCE SHEETS January 31, 2024 (Unaudited) April 30, 2023 ASSETS Current Assets Cash and cash equivalents $ 40,000 $ 292,454 Accounts receivable 213,840 339,463 Accounts receivable - related party 15,245 839 Accounts receivable - related party from discontinued operations 13 13 Advance payments and prepaid expenses 45,763 194,987 Inventories 82,074 134,646 TOTAL CURRENT ASSETS 396,935 962,402 Non-current assets Equipment, net depreciation $ 89,597 $ 120,531 Security deposits 128,253 141,750 TOTAL NON-CURRENT ASSETS 217,850 262,281 TOTAL ASSETS $ 614,785 $ 1,224,683 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accrued expenses and other payables $ 264,548 $ 343,742 Due to related party 38,739 9,815 Advance receipts 296,176 416,075 Short term loans 14,019 23,494 Current portion of long term loans 39,607 - Short term loans - related party 383,599 23,858 TOTAL CURRENT LIABILITIES 1,036,687 816,984 Noncurrent Liabilities Loans $ 138,190 $ 231,894 Loans - related party 330,492 127,588 Other long term liabilities - 1,753 TOTAL LIABILITIES $ 1,505,370 $ 1,178,219 Shareholders' Equity(Deficit) Preferred stock ($ 0.001 par value, 20,000,000 shares authorized, 0 issued and outstanding as of January 31, 2024 and April 30, 2023) - - Common stock ($ 0.001 par value, 1,000,000,000 shares authorized, 437,592,510 and 502,562,280 shares issued and outstanding as of January 31, 2024 and April 30, 2023, respectively) 437,592 502,256 Additional paid-in capital 12,927,153 12,747,075 Accumulated deficit ( 12,538,101 ) ( 11,712,412 ) Accumulated other comprehensive income(loss) ( 1,719,407 ) ( 1,492,940 ) Accumulated other comprehensive income(loss) from discontinued operation

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View this 10-Q filing on SEC EDGAR