Sino Green Land Corp. Files 10-Q for Period Ending December 31, 2023
Ticker: SGLA · Form: 10-Q · Filed: Feb 20, 2024 · CIK: 1433551
| Field | Detail |
|---|---|
| Company | Sino Green Land Corp. (SGLA) |
| Form Type | 10-Q |
| Filed Date | Feb 20, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, Sino Green Land Corp., Financial Report, Quarterly Filing, SEC Filing
TL;DR
<b>Sino Green Land Corp. has filed its Q2 2024 10-Q report, detailing financial information for the period ending December 31, 2023.</b>
AI Summary
Sino Green Land Corp. (SGLA) filed a Quarterly Report (10-Q) with the SEC on February 20, 2024. Sino Green Land Corp. filed a 10-Q report for the period ending December 31, 2023. The company's fiscal year ends on June 30. The filing covers the second quarter of fiscal year 2024. Previous company names include Go Silver Toprich, Inc., Sino Green Land Corp., and Henry County Plywood Corp. The business and mailing address is located in Semenyih, Selangor, Malaysia.
Why It Matters
For investors and stakeholders tracking Sino Green Land Corp., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and position during the second quarter of its fiscal year. Understanding the details within this 10-Q is crucial for assessing Sino Green Land Corp.'s operational health and future prospects in the wholesale-groceries sector.
Risk Assessment
Risk Level: low — Sino Green Land Corp. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new information that would alter the risk profile.
Analyst Insight
Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Sino Green Land Corp.'s performance and any emerging trends.
Key Numbers
- 2023-12-31 — Reporting Period End Date (The 10-Q covers the period ending on this date.)
- 2024-02-20 — Filing Date (The date the 10-Q was filed with the SEC.)
- Q2 2024 — Fiscal Quarter (The filing pertains to the second quarter of fiscal year 2024.)
- 06-30 — Fiscal Year End (The company's fiscal year concludes on this date annually.)
Key Players & Entities
- Sino Green Land Corp. (company) — Filer of the 10-Q report.
- Go Silver Toprich, Inc. (company) — Former name of Sino Green Land Corp.
- Henry County Plywood Corp (company) — Former name of Sino Green Land Corp.
- 2023-12-31 (date) — End of the reporting period for the 10-Q.
- 2024-02-20 (date) — Filing date of the 10-Q.
- Semenyih, Selangor (location) — Location of the company's business and mailing address.
FAQ
When did Sino Green Land Corp. file this 10-Q?
Sino Green Land Corp. filed this Quarterly Report (10-Q) with the SEC on February 20, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Sino Green Land Corp. (SGLA).
Where can I read the original 10-Q filing from Sino Green Land Corp.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Sino Green Land Corp..
What are the key takeaways from Sino Green Land Corp.'s 10-Q?
Sino Green Land Corp. filed this 10-Q on February 20, 2024. Key takeaways: Sino Green Land Corp. filed a 10-Q report for the period ending December 31, 2023.. The company's fiscal year ends on June 30.. The filing covers the second quarter of fiscal year 2024..
Is Sino Green Land Corp. a risky investment based on this filing?
Based on this 10-Q, Sino Green Land Corp. presents a relatively low-risk profile. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new information that would alter the risk profile.
What should investors do after reading Sino Green Land Corp.'s 10-Q?
Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Sino Green Land Corp.'s performance and any emerging trends. The overall sentiment from this filing is neutral.
How does Sino Green Land Corp. compare to its industry peers?
Sino Green Land Corp. operates within the Wholesale - Groceries & Related Products sector (SIC code 5140).
Are there regulatory concerns for Sino Green Land Corp.?
The filing is a Form 10-Q, a standard quarterly report required by the U.S. Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.
Risk Factors
- Business Address [low — operational]: The company's business and mailing address is located at No. 3 & 5, Jalan Hi Tech 7/7, Kawasan Perindustrian Hi Tech 7, Semenyih, Selangor, Malaysia.
Industry Context
Sino Green Land Corp. operates within the Wholesale - Groceries & Related Products sector (SIC code 5140).
Regulatory Implications
The filing is a Form 10-Q, a standard quarterly report required by the U.S. Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.
What Investors Should Do
- Analyze the financial statements for revenue, net income, and other key performance indicators.
- Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
- Check for any updates on legal, regulatory, or operational risks mentioned in the filing.
Key Dates
- 2023-12-31: End of Fiscal Q2 2024 Reporting Period — Key date for the financial information presented in the 10-Q.
- 2024-02-20: 10-Q Filing Date — Date the report was officially submitted to the SEC.
Year-Over-Year Comparison
This is a standard 10-Q filing for the period ending December 31, 2023, providing routine quarterly financial updates.
Filing Stats: 4,554 words · 18 min read · ~15 pages · Grade level 17.6 · Accepted 2024-02-20 06:54:28
Key Financial Figures
- $0.001 — ge on which registered: Common Stock, $0.001 par value SGLA OTC Market – Pink Sh
Filing Documents
- form10-q.htm (10-Q) — 579KB
- ex31-1.htm (EX-31.1) — 16KB
- ex31-2.htm (EX-31.2) — 17KB
- ex32-1.htm (EX-32.1) — 8KB
- ex32-2.htm (EX-32.2) — 8KB
- 0001493152-24-007110.txt ( ) — 3438KB
- sgla-20230630.xsd (EX-101.SCH) — 33KB
- sgla-20230630_cal.xml (EX-101.CAL) — 53KB
- sgla-20230630_def.xml (EX-101.DEF) — 68KB
- sgla-20230630_lab.xml (EX-101.LAB) — 234KB
- sgla-20230630_pre.xml (EX-101.PRE) — 178KB
- form10-q_htm.xml (XML) — 466KB
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 15 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 17 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 17 PART II OTHER INFORMATION ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 18 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 18 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 18 ITEM 4. MINE SAFETY DISCLOSURES 18 ITEM 5. OTHER INFORMATION 18 ITEM 6. EXHIBITS 19
SIGNATURES
SIGNATURES 20 2 PART I FINANCIAL INFORMATION ITEM 1. CONDENSED FINANCIAL STATEMENTS: SINO GREEN LAND CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2023, AND JUNE 30, 2023 (Currency expressed in United States Dollars ("US
quot;), except for number of shares) December 31 2023 June 30 2023 As of December 31, 2023 June 30, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 411,266 $ 125,134 Accounts receivable 35,432 52,796 Inventories, net 202,672 198,093 Prepaid expenses and other current assets 239,927 104,579 Total current assets 889,297 480,602 Non-current assets Property, plant and equipment, net 2,493,273 2,528,124 Operating lease right-of-use assets 10,927 42,546 Finance lease right-of-use assets 87,747 - Amount due from related parties 1,014,213 917,096 Total Assets $ 4,495,457 $ 3,968,368 Liabilities and Stockholders' Equity Current liabilities Accounts payable and accrued expense $ 309,493 $ 152,626 Customer advances 14,747 - Convertible note payable 750,000 750,000 Bank loan payable - current 37,311 36,266 Amount due to the related parties 2,656,109 1,677,885 Finance lease obligations – current 18,755 - Operating lease obligations – current 11,336 44,167 Total current liabilities 3,797,751 2,660,944 Non-current liabilities Finance lease obligations – non-current 52,701 - Operating lease obligations – non-current - - Bank loan payable – non-current 1,028,369 1,032,606 Total liabilities 4,878,821 3,693,550 Stockholders' Equity Preferred Stock, $ 0.001 par value; 20,000,000 shares authorized; 1,784,178 shares issued and outstanding at December 31, 2023 and June 30, 2023, respectively 1,784 1,784 Common Stock, $ 0.001 par value; 780,000,000 shares authorized; 161,809,738 shares issued and outstanding at December 31, 2023 and June 30, 2023, respectively 161,810 161,810 Additional paid-in-capfinancial statements . Accordingly, the Company's consolidated financial statements as of December 31, 2023 and June 30,
financial statements . Accordingly, the Company's consolidated financial statements as of December 31, 2023 and June 30, 2023, and for the three-month and six-months ended December 31, 2023 and 2022, include SGLA's, SGL's, and Tian Li's historical assets, liabilities, and results of operations, including the issuance of 160,349,203 shares of common stock of SGLA and 1,781,658 shares of preferred stock of SGLA on October 1, 2023, as if the combination and issuance of shares occurred at the beginning of the earliest period presented. 7 The Company conducts its business through its subsidiary Tian Li, which operates in Malaysia as an environmental technology company and recycler of plastic waste bottles and plastic packaging materials. Going concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the six months ended December 31, 2023, the Company incurred a net loss of $ 658,585 , and used cash in operating activities of $ 476,948 . These factors raise substantial doubt about the Company's ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. The ability of the Company to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations. Management believes additional cash required to meet the Company's obligations as they become due will be provided by way of advances from related parties. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able