QDM International Inc. Files 2024 Annual Report

TL;DR

QDM Intl filed its 2024 10-K. Based in FL, operates in insurance brokerage. HQ in Hong Kong.

AI Summary

QDM International Inc. filed its annual report (10-K) for the fiscal year ended March 31, 2024. The company, previously known as 24/7 Kid Doc, Inc., is incorporated in Florida and operates in the insurance agents, brokers, and services sector. Its principal executive offices are located in Kowloon, Hong Kong.

Why It Matters

This filing provides a comprehensive overview of QDM International Inc.'s financial performance and business operations for the past fiscal year, which is crucial for investors to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high risk.

Key Numbers

• 000-27251 — Commission File Number (Identifies the specific SEC filing for QDM International Inc.)
• 59-3564984 — IRS Number (Company's Employer Identification Number)

Key Players & Entities

• QDM International Inc. (company) — Registrant
• March 31, 2024 (date) — Fiscal year end
• Florida (location) — State of incorporation
• 59-3564984 (dollar_amount) — IRS Number
• 000-27251 (dollar_amount) — Commission file number
• 24/7 Kid Doc, Inc. (company) — Former company name
• 20160126 (date) — Date of name change from 24/7 Kid Doc, Inc.

FAQ

Key Financial Figures

• $0.0001 — (g) of the Act: Common Stock, par value $0.0001 Indicate by check mark if the registr
• $2.50 — e OTC Markets as of September 29, 2023 ($2.50) was approximately $ 54,526,325 . As o
• $ — of that insurance agent or broker; "US$," "U.S. dollars," "$," and "USD" are to
• $7.80 — ollars into U.S. dollars were made at HK$7.80 = US$1.00, which is the prevailing exch
• $1 — o U.S. dollars were made at HK$7.80 = US$1.00, which is the prevailing exchange ra

Filing Documents

• ea0208514-10k_qdminter.htm (10-K) — 920KB
• ea020851401ex4-1_qdminter.htm (EX-4.1) — 4KB
• ea020851401ex21-1_qdminter.htm (EX-21.1) — 3KB
• ea020851401ex31-1_qdminter.htm (EX-31.1) — 10KB
• ea020851401ex31-2_qdminter.htm (EX-31.2) — 10KB
• ea020851401ex32-1_qdminter.htm (EX-32.1) — 4KB
• ea020851401ex32-2_qdminter.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 37KB
• image_002.jpg (GRAPHIC) — 16KB
• image_003.jpg (GRAPHIC) — 4KB
• 0001213900-24-057975.txt ( ) — 4083KB
• qdmi-20240331.xsd (EX-101.SCH) — 35KB
• qdmi-20240331_cal.xml (EX-101.CAL) — 32KB
• qdmi-20240331_def.xml (EX-101.DEF) — 186KB
• qdmi-20240331_lab.xml (EX-101.LAB) — 304KB
• qdmi-20240331_pre.xml (EX-101.PRE) — 177KB
• ea0208514-10k_qdminter_htm.xml (XML) — 267KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 38 Item 1C Cybersecurity 38 Item 2.

Properties

Properties 38 Item 3.

Legal Proceedings

Legal Proceedings 38 Item 4. Mine Safety Disclosures 38 PART II 39 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 39 Item 6. [Reserved] 40 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 8.

Financial Statements and Supplemental Data

Financial Statements and Supplemental Data 44 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 44 Item 9A.

Controls and Procedures

Controls and Procedures 45 Item 9B. Other Information 45 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 45 PART III 46 Item 10. Directors, Executive Officers and Corporate Governance 46 Item 11.

Executive Compensation

Executive Compensation 48 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 49 Item 13. Certain Relationships and Related Transactions, and Director Independence 50 Item 14. Principal Accountant Fees and Services 51 PART IV 52 Item 15. Exhibits, Financial Statement Schedules 52 Item 16. Form 10-K Summary 52

SIGNATURES

SIGNATURES 53 i CERTAIN TERMS AND CONVENTIONS Unless otherwise indicated or the context otherwise requires, references in this Annual Report on Form 10-K (the "Report") to: "24/7 Kid" are to 24/7 Kid Doc, Inc., a Florida corporation and wholly-owned subsidiary of the Company, which was dissolved in September 2022; "BVI" are to the British Virgin Islands; "China" or the "PRC" are to the People's Republic of China, including Hong Kong, the special administrative region of Macau and Taiwan, unless in the context of describing PRC laws, regulations and other legal or tax matters in this annual report, excluding Taiwan, Hong Kong, and the special administrative region of Macau; "Hong Kong" are to the Hong Kong Special Administrative Region of the People's Republic of China; "Common stock" are to the common stock of the Company, par value $0.0001 per share; "HKD," "HK

Business

Item 1. Business. Overview QDM is a holding company incorporated in Florida with no material operations of its own, and we conduct our insurance brokerage business through our indirectly wholly-owned subsidiary, YeeTah, primarily in Hong Kong. YeeTah sells a wide range of insurance products consisting of two major categories: (1) life and medical insurance, such as individual life insurance; and (2) general insurance, such as automobile insurance, commercial property insurance, liability insurance and homeowner insurance. In addition, as a Mandatory Provident Fund ("MPF") intermediary, YeeTah is also licensed to provide customers with assistance on account opening and related services under the MPF and the Occupational Retirement Schemes Ordinance ("ORSO") schemes in Hong Kong, which are retirement protection schemes set up for employees who are Hong Kong residents. YeeTah sells insurance products underwritten by insurance companies operating in Hong Kong to individual customers who are either Hong Kong residents or visitors from Mainland China and is compensated for its services by commissions paid by insurance companies, typically based on a percentage of the premium paid by the insured. Commissions generally depend on the type and term of insurance products and the particular insurance company, and they are usually paid by the insurance companies the next month after the cooling off period of the policies sold, which is generally 21 days after the earlier of the delivery of the policy or the delivery of the cooling off notice to the policy holder, during which period policy purchasers may cancel the policy at their discretion and receive refunds. As of the date of this Report, YeeTah is a party to agreements with 17 insurance companies in Hong Kong, and offers approximately 464 insurance products to its individual customers. For the fiscal year ended March 31, 2024, approximately 96.5% of YeeTah's total commissions was attributable to one insurance company

View Full Filing

View this 10-K filing on SEC EDGAR