Planet Green Holdings Corp. Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>Planet Green Holdings Corp. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial status and operations.</b>

AI Summary

Planet Green Holdings Corp. (PLAG) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Planet Green Holdings Corp. filed a 10-Q report for the quarterly period ended March 31, 2024. The company is registered in Nevada and its principal executive office is located in Flushing, NY. Common stock of Planet Green Holdings Corp. trades under the symbol PLAG on NYSE American. The filing indicates the company is a non-accelerated filer and a smaller reporting company. The report was filed on May 15, 2024.

Why It Matters

For investors and stakeholders tracking Planet Green Holdings Corp., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Planet Green Holdings Corp.'s financial performance and operational status for the first quarter of 2024. As a smaller reporting company and non-accelerated filer, this report is crucial for understanding the company's current financial health and its compliance with SEC regulations.

Risk Assessment

Risk Level: low — Planet Green Holdings Corp. shows low risk based on this filing. The filing is a standard 10-Q report with no immediate indicators of significant financial distress or positive breakthroughs, suggesting a neutral outlook based solely on this document.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to assess Planet Green Holdings Corp.'s performance and future prospects.

Key Numbers

• 2024-03-31 — Quarterly Period End Date (The report covers the period ending on this date.)
• 2024-05-15 — Filing Date (The date the 10-Q was officially filed with the SEC.)
• 001-34449 — Commission File Number (SEC identifier for the company.)
• 87-0430320 — IRS Employer Identification Number (Tax identification number for the company.)

Key Players & Entities

• Planet Green Holdings Corp. (company) — Registrant name
• March 31, 2024 (date) — Quarterly period ended
• May 15, 2024 (date) — Filing date
• Nevada (jurisdiction) — State of incorporation
• Flushing, NY (location) — Business address
• PLAG (ticker) — Trading Symbol
• NYSE American (company) — Exchange where registered

FAQ

Industry Context

Planet Green Holdings Corp. operates within the food specialties sector, specifically canned, frozen, and preserved fruits and vegetables.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly reports (10-Q) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and net income for the quarter ended March 31, 2024.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into business performance and outlook.
3. Check for any updates on significant business developments, risks, or legal proceedings mentioned in the filing.

Key Dates

• 2024-03-31: Quarterly period end — End date for the financial reporting period covered by the 10-Q.
• 2024-05-15: Filing date — Date the 10-Q was submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first set of quarterly financial data for the year.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share PLAG NYSE American Securiti

Filing Documents

• ea0205769-10q_planet.htm (10-Q) — 737KB
• ea020576901ex10-1_planet.htm (EX-10.1) — 22KB
• ea020576901ex31-1_planet.htm (EX-31.1) — 9KB
• ea020576901ex31-2_planet.htm (EX-31.2) — 9KB
• ea020576901ex32-1_planet.htm (EX-32.1) — 4KB
• ea020576901ex32-2_planet.htm (EX-32.2) — 4KB
• 0001213900-24-043456.txt (&nbsp;) — 6542KB
• plag-20240331.xsd (EX-101.SCH) — 88KB
• plag-20240331_cal.xml (EX-101.CAL) — 68KB
• plag-20240331_def.xml (EX-101.DEF) — 349KB
• plag-20240331_lab.xml (EX-101.LAB) — 586KB
• plag-20240331_pre.xml (EX-101.PRE) — 347KB
• ea0205769-10q_planet_htm.xml (XML) — 743KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1 ITEM 1

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS F-1 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 2 ITEM 3

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 6 ITEM 4

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 6

- OTHER INFORMATION

PART II - OTHER INFORMATION 7 ITEM 1

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 7 ITEM 1A

RISK FACTORS

RISK FACTORS 7 ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 7 ITEM 3 DEFAULTS UPON SENIOR SECURITIES 7 ITEM 4 MINE SAFETY DISCLOSURES 7 ITEM 5 OTHER INFORMATION 7 ITEM 6 EXHIBITS 8

SIGNATURES

SIGNATURES 9 i Caution Regarding Forward-Looking Statements This quarterly report on Form 10-Q contains forward-looking or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking described on the Registration Statement on Form S-3 filed by the Company on September 17, 2021, and as subsequently amended, together with the other information contained in this report. If any of the events descripted in the risk factors occur, our business, financial condition and operating results may be materially adversely affected. In that event, the trading price of our securities could decline, and you could lose all or part of your investment. In some cases, you can identify forward-looking "intends," "may," "plans," "potential," "predicts," "projects," "should," "would" or the negative of such terms or other similar expressions intended to identify forward-looking to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this report. You should read this report completely and with the understanding that our actual future results may be materially different from what we expect. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ mate

FINANCIAL STATEMENTS

ITEM 1 FINANCIAL STATEMENTS PLANET GREEN HOLDINGS CORP. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL MARCH 31, 2024 AND DECEMBER 31, 2023 (Stated in US Dollars) CONTENTS PAGES Unaudited Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 F-2 Unaudited Condensed Consolidated F-3 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity F-4 Unaudited Condensed Consolidated F-5 Notes to Unaudited Condensed Consolidated Financial Statements F-6 to F-23 F-1 Planet Green Holdings Corp. Unaudited Condensed Consolidated Balance Sheets March 31, December 31, 2024 2023 Assets Current assets Cash and cash equivalents $ 403,082 $ 436,383 Trades accounts receivable, net 3,020,072 3,160,325 Inventories 2,223,823 1,953,063 Advances to suppliers 4,129,964 5,316,195 Other receivables 342,605 349,984 Other receivables-related parties 2,138,947 315,724 Prepaid expenses 897,812 978,803 Current assets of discontinued operations 196,573 - Total current assets 13,352,878 12,510,477 Non-current assets Plant and equipment, net 19,753,040 20,271,844 Intangible assets, net 2,783,780 2,834,102 Construction in progress, net 30,894 30,948 Long-term investments 2,254,011 2,257,926 Goodwill 4,724,699 4,724,699 Total non-current assets 29,546,424 30,119,519 Total assets $ 42,899,302 $ 42,629,996 Liabilities and Stockholders' Equity Current liabilities Loans-current $ 1,407,611 $ - Accounts payable 3,240,599 3,598,247 Advance from customers 2,354,980 2,464,319 Taxes payable 1,232,717 1,243,060 Other payables and accrued liabilities 4,488,052 4,510,192 Other payables-related parties 7,342,400 7,333,545 Deferred income 17,266 36,33

View Full Filing

View this 10-Q filing on SEC EDGAR