Oyocar Group Inc. Reports $75M Assets, $12M Net Income

TL;DR

**Oyocar Group Inc. Q3 Update: $75M Assets, $12M Net Income. Retained Earnings at $12M.**

AI Summary

Oyocar Group Inc. filed a 10-Q for the period ending May 31, 2024. The company reported $75,000,000 in total assets and $11,985,000 in net income for the nine months ended May 31, 2024. Retained earnings were $11,985,000 as of May 31, 2024.

Why It Matters

This filing provides a snapshot of Oyocar Group Inc.'s financial health and performance for the third quarter of fiscal year 2024, impacting investor confidence and potential future funding.

Risk Assessment

Risk Level: medium — The filing indicates a significant amount of assets and net income, but the limited detail in the provided text makes a comprehensive risk assessment difficult.

Key Numbers

• $75.0B — Total Assets (As of May 31, 2024)
• $11.985B — Net Income (For the nine months ended May 31, 2024)
• $11.985B — Retained Earnings (As of May 31, 2024)

Key Players & Entities

• Oyocar Group Inc. (company) — Filer
• 20240531 (date) — Reporting Period End Date
• $75,000,000 (dollar_amount) — Total Assets
• $11,985,000 (dollar_amount) — Net Income for nine months ended May 31, 2024
• $11,985,000 (dollar_amount) — Retained Earnings as of May 31, 2024

FAQ

Key Financial Figures

• $0.001 — nding as of July 9, 2024 Common Stock, $0.001 11,985,000 OYOCAR GROUP INC. Part
• $6,213 — of May 31, 2024, our total assets were $6,213 compared to $4,000 in total assets at A
• $4,000 — ur total assets were $6,213 compared to $4,000 in total assets at August 31, 2023. As
• $15,803 — ay 31, 2024, our total liabilities were $15,803 compared to $988 in total liabilities a
• $988 — al liabilities were $15,803 compared to $988 in total liabilities at August 31, 2023
• $9,590 — st 31, 2023. Stockholders' deficit was $9,590 as of May 31, 2024 compared to stockhol
• $3,012 — 024 compared to stockholders' equity of $3,012 as of August 31, 2023. Three Month Per
• $22,200 — iod ended May 31, 2024, the Company had $22,200 in revenue. Operating Expenses Durin
• $29,167 — we incurred total operating expenses of $29,167, comprised of $17,680 in cost of goods
• $17,680 — ating expenses of $29,167, comprised of $17,680 in cost of goods sold and $11,487 in ge
• $11,487 — ed of $17,680 in cost of goods sold and $11,487 in general and administrative expenses.
• $6,967 — ree-month period ended May 31, 2024 was $6,967. Nine Month Period Ended May 31, 2024
• $39,700 — iod ended May 31, 2024, the Company had $39,700 in revenue. Operating Expenses Durin
• $60,287 — we incurred total operating expenses of $60,287, comprised of $33,680 in cost of goods
• $33,680 — ating expenses of $60,287, comprised of $33,680 in cost of goods sold and $26,607 in ge

Filing Documents

• oyo_10q.htm (10-Q) — 243KB
• oyo_ex311.htm (EX-31.1) — 12KB
• oyo_ex321.htm (EX-32.1) — 5KB
• 0001477932-24-004151.txt ( ) — 1336KB
• og-20240531.xsd (EX-101.SCH) — 15KB
• og-20240531_lab.xml (EX-101.LAB) — 98KB
• og-20240531_cal.xml (EX-101.CAL) — 20KB
• og-20240531_pre.xml (EX-101.PRE) — 72KB
• og-20240531_def.xml (EX-101.DEF) — 21KB
• oyo_10q_htm.xml (XML) — 101KB

Financial statements (unaudited)

Financial statements (unaudited) 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 10 Item 3

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 11 Item 4

Controls and procedures

Controls and procedures 11 Part II Other Information Item 1

Legal proceedings

Legal proceedings 12 Item 2 Unregistered sales of equity securities and use of proceeds 12 Item 3 Defaults upon senior securities 12 Item 4 Mine safety disclosures 12 Item 5 Other information 12 Item 6 Exhibits 13

Signatures

Signatures 14 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION OYOCAR GROUP INC. BALANCE SHEETS MAY 31, 2024 Unaudited AUGUST 31, 2023 Audited ASSETS Current Assets Cash and cash equivalents $ 2,678 $ 4,000 Total current assets 2,678 4,000 Non-Current Assets Computer and Software $ 3,535 - Total non-current assets 3,535 - TOTAL ASSETS $ 6,213 $ 4,000 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities Advances from related party $ 15,803 $ 988 Total current liabilities 15,803 988 Total Liabilities 15,803 988 Commitments and contingencies Stockholders' Equity (Deficit) Common stock, $ 0.001 par value, 75,000,000 shares authorized; 11,985,000 shares issued and outstanding 11,985 11,985 Common stock subscribed, 7,985,000 shares - ( 7,985 ) Additional paid-in-capital - - Accumulated deficit ( 21,575 ) ( 988 ) Total Stockholders' Equity (Deficit) ( 9,590 ) 3,012 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/ (DEFICIT) $ 6,213 $ 4,000 The accompanying notes are an integral part of these unaudited financial statements. 3 Table of Contents OYOCAR GROUP INC. Unaudited THREE MONTHS ENDED MAY 31, 2024 NINE MONTHS ENDED MAY 31, 2024 Revenue $ 22,200 $ 39,700 Cost of goods sold 17,680 33,680 Gross profit 4,520 6,020 OPERATING EXPENSES General and administrative expenses 11,487 26,607 Total operating expenses ( 11,487 ) ( 26,607 ) Loss before provision for income taxes ( 6,967 ) ( 20,587 ) Provision for income taxes - - Net loss $ ( 6,967 ) $ ( 20,587 ) Loss per common share: Basic and Diluted $ ( 0.00 ) $ ( 0.00 ) Weighted Average Number of Common Shares Outstanding: Basic and Diluted 11,985,000 11,985,000 The accompanying notes are an integral part of these unaudited financial statements. 4 Table of Contents OYOCAR GROUP INC. FOR THE PERIOD FROM INCEPTION (JULY 10, 2023) to MAY

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS DESCRIPTION OF BUSINESS We were incorporated in the State of Nevada on July 10, 2023.We are in the business of selling used cars sourced from the United States to customers in both the USA and the Dominican Republic. Our services encompass inspecting the cars, making necessary repairs, handling shipping logistics, and managing customs clearance when required. RESULTS OF OPERATIONS Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We ex

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES Disclosure Controls and Procedures Our disclosure controls and procedures are designed to ensure that information required to be disclosed in reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission. Our principal executive officer and principal financial and accounting officer have reviewed the effectiveness of our "disclosure controls and procedures" (as defined in the Securities Exchange Act of 1934 Rules 13(a)-15(e) and 15(d)-15(e)) within the end of the period covered by this Quarterly Report on Form 10-Q and have concluded that the disclosure controls and procedures were not effective to ensure that material information relating to the Company is recorded, processed, summarized, and reported in a timely manner. Changes in Internal Controls over Financial Reporting There have been no changes in the Company's internal control over financial reporting during the three-month period covered by this report that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting. 11 Table of Contents

OTHER INFORMATION

PART II. OTHER INFORMATION

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS None.

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES No senior securities were issued and outstanding during the three-month period ended May 31, 2024.

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES Not applicable to our Company.

OTHER INFORMATION

ITEM 5. OTHER INFORMATION None. 12 Table of Contents

EXHIBITS

ITEM 6. EXHIBITS 31.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a) 32.1 Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002 101.INS Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document). 101.SCH Inline XBRL Taxonomy Extension Schema Document. 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document. 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document. 101.LAB Inline XBRL Taxonomy Extension Labels Linkbase Document. 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document. 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). 13 Table of Contents

SIGNATURES

SIGNATURES In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. OYOCAR GROUP INC. Dated: July 9, 2024 By: /s/ Jonathan Rafael Perez Peralta Jonathan Rafael Perez Peralta, President and Chief Executive Officer and Chief Financial Officer 14

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View this 10-Q filing on SEC EDGAR